The little-known governance, surveillance & enforcement division of the companies & intellectual property commission (CIPC) has fingered 15 JSE-listed companies for not disclosing proper annual turnover values in their annual returns to the commission.But the division’s first bid to engage publicly with listed entities appears to have fallen foul of the JSE, which wants nothing to do with efforts to "out" these transgressors.In a dramatic break with convention, the CIPC’s governance, surveillance & enforcement unit went public about its recent engagement with the 15 companies. It issued a press release referring to "a surveillance sweep" in which it identified that the listed companies were either underdisclosing or not disclosing the proper annual turnover values and therefore not paying the correct annual return fees to the CIPC.Many of the companies involved have attributed this fairly basic contravention of the Companies Act to administration errors, but they have failed to expl...
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