Reserve Bank slaps Sasfin with a R210m fine
Sasfin has taken legal advice and is considering further representations that could result in a review or appeal of the sanctions
06 August 2024 - 10:24
UPDATED 06 August 2024 - 23:25
The Reserve Bank’s Prudential Authority has fined Sasfin nearly R210m for breaching SA’s foreign exchange laws. However, the company still faces a mammoth R4.9bn tax bill from Sars, which it is disputing.
Sasfin, which has begun a process to delist from the JSE, said on Tuesday that the central bank had informed it of its decision to impose a R209.6m fine, of which R49m was suspended, meaning the company would have to pay the fiscus R160.4m...
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