All adds up: Considerations and calculations behind eye-watering admin penalties

October 31, 2024 By: 0 comments

<p><img src=”https://biz-file.com/c/2410/756108-208×117.jpg?2″ width=”208″ height=”117″ alt=”Image source: Tima Miroshnichenko from” align=”left”><br><span >Image source: Tima Miroshnichenko from [[https://www.pexels.com Pexels]]&lt;/span><p>R475m, R210m, R59m, these are not lottery-winning jackpot amounts. They are some of the eye-watering administrative penalties that have recently been imposed by the Financial Sector Conduct Authority (FSCA) and the Prudential Authority (PA) (together, the Regulators) during 2024 on (i) the late Markus Jooste for perpetrating insider trading, (ii) Sasfin Bank for historic non-compliance within its discontinued foreign exchange business and (iii) the likes of private companies such as My Wealth Method Proprietary Limited for contravening the Banks Act, 1990.</p><br> <a href=”https://www.bizcommunity.com/article/all-adds-up-considerations-and-calculations-behind-eye-watering-admin-penalties-033315a”>Read more…</a> | <a href=”https://www.bizcommunity.com/Request/SendToEmailRedirect.aspx?ct=1&i=253027″>Send to a friend</a></p><div style=”clear:left”></div>