Markus Jooste on the hook for R160m in insider trading fines
The FSCA has announced the outcome of its investigation into share trading days before the collapse of the Steinhoff share price
30 October 2020 - 12:34
The Financial Sector Conduct Authority (FSCA) has imposed a R122.9m fine on Markus Jooste for insider trading on the day of the collapse of the Steinhoff share price in December 2017 when admissions of “accounting irregularities” and his sudden resignation came to light.
The FSCA’s divisional executive for investigation and enforcement, Brandon Topham, made the announcement on Friday as part of total administrative fines of R241m levied on Jooste and three other parties...
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