Was Sharemax illegal, or did the Reserve Bank screw up?
CIPC investigation aims to establish why the R4.6bn scheme failed, in order to restore ‘regulatory integrity’.
Source: moneyweb.co.za
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Reserve Bank issued directives against Sharemax in 2010
MONEYWEB Despite being warned of the disastrous consequences for investors. 00:01 The abandoned Villa Retail Park development in Pretoria. Its prospectus was issued after the launch of a Sarb investigation into Sharemax in 2007. Image: Moneyweb The South African Reserve Bank (Sarb) issued directives against Sharemax in 2010 despite a warning by a senior advocate about the disastrous financial consequences âan over hasty approachâ could have for investors because urgent high court winding-up applications were pending against the failed property syndication company. This was conf...
Source: moneyweb.co.za