Financial Services Board’s move has created many more opportunities than expected, but black capital has not aggressively taken advantage of them, writes Phakamisa Ndzamela THE Financial Services Board (FSB) came in for serious criticism last year for moving to implement the Financial Markets Act more strictly and deeming some issuers, such as black economic empowerment (BEE) and agricultural schemes to be operating illegal exchanges.In fact, the FSB’s move has created many more opportunities than expected, but black capital has not aggressively taken advantage of them.For those who have not followed the story, many issuers, such as BEE schemes Sasol Inzalo; Ukhamba Holdings; Welkom Yizani; YeboYethu and MTN Zakhele were deemed to be operating illegal exchanges. These issuers were read the riot act and warned that they should either adapt to legal mechanisms or shut down.There was a lot of noise about the FSB clamping down on a market that was educating many people about the markets...
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