The Companies and Intellectual Property Commission (CIPC) is on track to release a pivotal report by October, which should shed light on the role the South African Reserve Bank (Sarb) played in the collapse of various property syndication schemes such as Sharemax.
The report may even result in a scenario where investors could be compensated for their losses if it indicates that the industry imploded due to regulatory irregularities.
The CIPC's investigation started in 2022 when it began probing the Nova property group's failure to repay former Sharemax investors within the 10 years it was tasked to.
However, the scope of the investigation was soon expanded to include the role various regulators, such as the Sarb, played in the collapse of Sharemax and other schemes such as Realcor, Amatenda and King Financial Services.
The investigation has so far resulted in the CIPC writing a "preliminary report", which has not been made public. However, the CIPC sent a letter to regulators in April inviting them to participate in the inquiry, which revealed that the investigation had uncovered "legal inconsistencies, procedural anomalies and potential jurisdictional over-reach" related to one or more of the regulators.
The CIPC also invited the National Prosecuting Authority (NPA) and the South African Revenue Service.
هذه القصة مأخوذة من طبعة August 21, 2024 من The Citizen.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة August 21, 2024 من The Citizen.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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