SA Financial Services Board probes trades during Pravin Gordhan recall

Financial Services Board

The South African financial markets will see another round of probe as the Financial Services Board said it will investigate trades during recall of former Finance Minister Pravin Gordhan.

The FSB said “The investigation is on-going,” Solly Keetse, head of Market Abuse at the FSB.

However, the Johannesburg Stock Exchange said in April it was probing the trades involving currency futures and would forward its findings to the FSB once they are finalised.

It would be recalled in April that former Finance Minister Pravin Gordhan, was recalled by President Jacob Zuma from an investor roadshow.

The confusion surrounding his recall led to his sacking as well as other cabinet members. South Africa has also received a huge backlash from rating agencies who downgraded the country to junk over leadership and political instability.

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