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JSE investigates possible insider trading ahead of Gordhan’s recall

The Johannesburg Stock Exchange is currently looking into trading activity, that occurred leading up to the Treasury’s recall from an international investor roadshow two weeks ago.

The JSE says it’s reviewing significant moves in numerous listed securities, including currency futures.

Market research house, Intellidex, says investors stood to gain from knowing that Finance Minister Pravin Gordhan would be recalled, and how the markets would react to this news.

Intellidex says circumstantial evidence shows contracts for these were opened prior to news of Finance Minister Pravin Gordhan’s recall.

The JSE will forward its findings to the Financial Services Board once investigations have been finalised.

Source – eNCA

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