FSB investigates four cases related to Steinhoff
The Financial Services Board (FSB) is investigating four cases related to alleged irregularities committed by Steinhoff, the leader of the FSB’s directorate of market abuse investigation team, Alex Pascoe, said on Wednesday. The FSB has summonsed former Steinhoff CEO Markus Jooste to answer questions related to its investigations. The first investigation under the Financial Markets Act relates to possible insider trading and focuses on a foreign account that sold Steinhoff shares during August 2017. The trading account belongs to a foreign incorporated private company. Pascoe said the FSB was investigating whether unpublished, price-sensitive inside information had "crystallised" before the transactions. "The investigation necessitates sending and receiving several requests to foreign regulators to assist us in collecting evidence from witnesses and legal entities," Pascoe told members of four parliamentary committees during a hearing on Steinhoff. Another investigation into insider...
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