The Financial Sector Conduct Authority says it has finished part of its investigation into potential insider trading in the shares of embattled retailer Steinhoff, finding no evidence of manipulation in three accounts. that the financial regulator was investigating seven Steinhoff accounts into total for potential insider trading.
The FSCA, formally known as the Financial Services Board, reported on Thursday it had investigated three accounts where R418m in Steinhoff shares were traded during the period preceding December 4, 2017.“We found no reason to believe that any of these shares were traded in contravention of the Financial Markets Act” said Brandon Topham, Divisional Executive for Investigation and Enforcement at the authority.
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