PJ. Veldhuizen sits on the Financial Services Board’s (FSB) Directorate of Market Abuse.
“The FSB is responsible for investigating market abuse offences as defined in the Financial Markets Act No 19 of 2012 (FMA). Essentially the FSB carries out the mandate of the Directorate of Market Abuse (DMA) which is a committee appointed by the Minister of Finance, to investigate and enforce the prohibitions against market abuse contained in the FMA. The FMA clearly defines that there are three market abuse offences, namely; insider trading (prohibited in section 78), market manipulation (prohibited in section 80), and false reporting (prohibited in section 81).
The FSB protects the integrity of our financial markets, thereby protecting members of the public and investing community who trade in securities listed on a regulated market. In the event that the DMA finds that the FMA has been contravened it has various avenues available to it, namely; it may refer the matter to the FSB’s Enforcement Committee for enforcement action to be instituted against the offender, refer the matter to the National Prosecuting Authority for criminal prosecution or apply for a court interdict or attachment order in relation to any matter referred to in Chapter X of the FMA.“ – Adapted from the FSB website – https://www.fsb.co.za/departments/marketabuse/Pages/AboutUs.aspx – accessed 4 July 2017.
Please be advised that the Minister of Finance (Minister) on 02 July 2017 decided to re-appoint PJ. as a member of the Directorate of Market Abuse (Directorate) for a further term of office commencing on the 01stOctober 2017 (when his current term ends) until the 30th September 2018 or until the coming into effect of the Financial Sector Regulation Bill, whichever occurs first.