DMA kept busy

31 May 2006 | Talked About Features | Featured Story | Angelo Coppola

There are 17 cases of possible insider trading which are in various stages of completion at the Directorate of Market Abuse (DMA). These investigations are not into the affairs of the companies listed but into trading in shares on the stock exchange.

Cases that have been closed include dealings in Glenrand MIB in August 2005; Gubb and Inggs Limited in May 2002; the Liberty Group Limited between June and July 2005; MICC Property Income Fund Limited between November and December 2005.

Investigations are "closed" once it becomes evident that no, or insufficient evidence has been obtained to warrant action in terms of the Act

In terms of possible market manipulation the DMA reports that a case concerning Stratcorp Limited has been referred for legal action. The activities took place in January this year.

Added to which there were two other cases of possible market manipulation being investigated and they concern ACC-ROSS and New Rand Warrants.

Two cases of possible false reporting are under investigation, of which one has been referred for criminal investigation.

quick poll

Question

Looking at South Africa’s pension landscape, which aspect of Nigeria’s Contributory Pension Scheme (CPS) do you believe would be most beneficial for South Africa to adopt?

Answer

Mandatory participation for all employees Private sector involvement in pension fund management Individual Retirement Savings Accounts (RSAs) for better control Phased implementation for smoother rollout Enhanced public education campaigns on retirement savings Flexibility for informal sector workers to participate

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