New SA stock exchange fined for not filing its results

The Financial Sector Conduct Authority (FSCA) levied a penalty of R30,000 on one of SA’s new upstart bourses, 4 Africa Exchange, for failing to submit its financial statements.

Its statements were due more than a year ago, at end-July 2018.

“In mitigation, however, the FSCA considered, amongst others, the fact that 4AX admitted to the contravention and cooperated with the FSCA in all respects.”

4AX was launched in 2017, along with other new exchanges ZARX and A2X, as a competitor to the JSE.

4AX has a handful of listings, including the  agricultural business NWK and the insurer Assupol.

ZAR/USD
17.04
(-0.38)
ZAR/GBP
21.81
(-0.11)
ZAR/EUR
19.90
(-0.12)
ZAR/AUD
12.03
(-0.12)
ZAR/JPY
0.16
(-1.12)
Gold
1860.65
(+0.03)
Silver
22.87
(+0.11)
Platinum
844.51
(+0.50)
Brent Crude
42.23
(-0.12)
Palladium
2207.00
(+0.59)
All Share
53587.11
(-1.22)
Top 40
49547.74
(-1.16)
Financial 15
9401.28
(-1.95)
Industrial 25
72949.70
(-1.72)
Resource 10
53453.42
(-0.10)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1367 votes
It depends on how the funds are used.
73% - 8848 votes
No. We should have gotten the loan elsewhere.
16% - 1954 votes
Vote