A year on and regulator is yet to rule on Resilient probe
The FSCA is keeping mum about when it will release findings into allegations of market manipulation and insider trading
One year after the biggest scandal to hit listed property began, fund managers and other investors are desperate for the Financial Sector Conduct Authority (FSCA) to conclude its long-awaited investigation. Analysts say that the sector, which lost investors 25% in 2018, will not see any meaningful improvement in its fortunes until the FSCA releases findings on its investigation into the allegations of share price manipulation that have plagued the Resilient stable of companies since January 2018.
Ian Anderson, chief investment officer at Bridge Fund Managers, said while the FSCA was being cautious as it was not the first time the group was under investigation or allegations had been levelled at the companies within it, the investment community was becoming desperate. “While it’s frustrating for investors, I’d rather the FSCA and JSE do their jobs properly and turn over every stone in their investigation and make the judgment in the end, and one the market can trust given the t...
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