SA’s largest brokerage, Peresec, has been issued with a ‘compliance notice’ for its role in four transactions, yet settled the case without admission of guilt. The complainants say this isn’t good enough
“My confidence in our financial regulators has taken a severe knock,” says Albie Cilliers, a private investor, in a letter to the Takeover Regulation Panel last week.
Cilliers was reacting to the panel’s finding after an eight-month investigation into several transactions involving the wider Peresec Group — including African Phoenix, Zarclear and the JSE-listed industrial group enX. ..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 TimesLive Premium.
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