Streaming issues? Report here
money-show-thumbnailjpg
The Money Show with Bruce Whitfield
18:00 - 19:00
volume_up
volume_mute

Up Next: SportsTalk with Buhle Madulini
See full line-up
The Money Show with Bruce Whitfield
18:00 - 19:00
Home
arrow_forward
Local

FSCA: There is no conspiracy in Sekunjalo Investment Holdings raid

10 October 2019 10:45 AM
Tags:
Search and seizure
Sekunjalo Investments
Iqbal Survé
Financial Sector Conduct Authority (FSCA)
Divisional executive of investigations and enforcement Brandon Topham says they are investigating potential market abuse.

The Financial Sector Conduct Authority (FSCA) says there is no conspiracy in the raid at Sekunjalo Investment Holdings in Cape Town.

The FSCA raided the company as part of an investigation into allegations of prohibited trading practices.

Sekunjalo Investments Holdings owner Iqbal Survé argued that the operation was orchestrated by Public Enterprises Minister Pravin Gordhan.

Speaking to Refilwe Moloto, FSCA divisional executive of investigations and enforcement Brandon Topham says the order for the search was granted by the Western Cape High Court.

There is no conspiracy for sure. One morning I read Business Day and I saw an article on the group and I said this needs a bit of investigation.

Brandon Topham, Divisional executive of investigations and enforcement - FSCA

So we commenced our investigation into potential market abuse in terms of the Financial Market Act.

Brandon Topham, Divisional executive of investigations and enforcement - FSCA

Part of our investigation gives us the power to do a search and seizure which we use in certain circumstances and we chose to use it yesterday.

Brandon Topham, Divisional executive of investigations and enforcement - FSCA

Survé released the following statement:

Listen to the full interview below...


10 October 2019 10:45 AM
Tags:
Search and seizure
Sekunjalo Investments
Iqbal Survé
Financial Sector Conduct Authority (FSCA)

More from Local

caa-number-platesjpg

Goodbye, CAA! Cape number plates are about to change again - this time ending WC

18 October 2019 4:22 PM

The relatively new CAA number plates are about to run out, explains Western Cape Transport MEC Bonginkosi Madikizela.

Share this:
Read More arrow_forward

2090605-taxi-protestjpg

CT traffic officers tow away 23 taxis for blocking routes out of the city

18 October 2019 3:54 PM

Taxi drivers have been causing disruptions this week in protest against warrants issued in an operation by the City of Cape Town.

Share this:
Read More arrow_forward

191014ramaphosajpg

Ramaphosa visits Inanda police station in KZN

18 October 2019 2:23 PM

Recent crime statistics show that the police station has the highest number of sexually related crimes in the country.

Share this:
Read More arrow_forward

capet-town-taxi-protestjpg

[WARNING] Taxis blocking the N2 at the M5, causing heavy delays leaving the CBD

18 October 2019 2:11 PM

Expect heavy delays out of the City along all major routes.

Share this:
Read More arrow_forward

191018gwedegif

Nukes definately part of new approved resource plan, says Minerals and Energy DG

18 October 2019 1:46 PM

Director-General Thabani Zulu says the nuclear programme will be done at a cost and a pace that is affordable to the State.

Share this:
Read More arrow_forward

ea23d8d2-1283-4d6b-9bb6-dc96aad1f1cf.jpg

City says it will re-evaluate R100 lease fee once CT Stadium brings in money

18 October 2019 1:10 PM

Cape Town stadium will be leased to a municipal body that's subsidised by the city for R100 per annum.

Share this:
Read More arrow_forward

fire-fighters-forestjpg

'No evidence suggests next fire season in Cape will be anything out of ordinary'

18 October 2019 7:10 AM

Stellenbosch University researcher Alanna Rebelo describes the factors involved in Cape Town fires and how residents can help.

Share this:
Read More arrow_forward

190801da-logogif

DA CEO Paul Boughey resigns

17 October 2019 5:13 PM

In his resignation letter, Boughey - who had been CEO for the DA for five years - said that he had reached an agreement with the party in principle to resign.

Share this:
Read More arrow_forward

191016 Nicholas Ninow3

Nicholas Ninow sentenced to life

17 October 2019 4:02 PM

Judge Papi Mosopa handed down the sentence in the North Gauteng High Court on Thursday.

Share this:
Read More arrow_forward