JSE Ltd has censured a Nedbank unit for failing to ensure that a client issued an earnings report that complied with the exchange operator’s listing rules, a move that amounts to an embarrassing public dressing-down rather than financial penalties.

The JSE said Nedbank’s corporate and investment banking division, which acts as governance adviser to Rebosis Property Fund, failed to fully carry out its responsibilities when its client released 2019 annual results that were not reviewed or audited. "The publication of annual financial statements, whether preliminary, provisional or final, is a fundamental disclosure requirement upon which investors rely to make informed investment decisions," the JSE said on Tuesday...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now