Viceroy vows to appeal R50m fine for Capitec report
Short-seller accuses authority of being an ‘attack dog’ for bank to protect it from scrutiny
Viceroy Research has hit back at the Financial Sector Conduct Authority (FSCA) after the regulatory body slapped it with a R50m administrative penalty for a report on Capitec it says was false, misleading and deceptive.
In an interview with Business Day, one of Viceroy’s founders, Fraser Perring, accused the FSCA of launching a “PR attack campaign” against it in an attempt to protect Capitec from scrutiny by those who have concerns about its business practices. He also alleged that the FSCA has not given Viceroy a chance to defend itself before the fine. The short seller will appeal...