Market watchdog probes a number of insider trading, collusion cases
Among firms that are under scrutiny are Famous Brands, SacOil Holdings, Steinhoff International and Super Group
The Financial Services Board’s (FSB’s) directorate of market abuse said on Wednesday it was investigating a number of possible insider trading and market manipulation cases.
The directorate was looking into possible insider trading involving shares in Famous Brands, SacOil Holdings, Steinhoff International, Super Group, Vodacom Group, WG Wearne and wheat futures contracts.
It had closed a case involving Lewis Group’s stock — meaning insufficient evidence had been found to warrant action – and was enforcing another involving Times Media Group (now Tiso Blackstar Group).
Meanwhile, several market manipulation investigations were continuing, including one involving Oakbay Resources and Energy’s stock.
"The FSB is investigating possible price manipulation in Oakbay Resources and Energy shares after it listed in November 2014 and not prior to listing, as the FSB does not have jurisdiction to investigate trading in shares prior to their listing on an exchange or in unlisted securities," said the directorate.
The directorate was also investigating market manipulation cases involving shares in SABMiller and The Foschini Group (now TFG).