The Financial Services Board (FSB) is investigating South African information technology company CS Holdings for alleged insider trading, the board confirmed on Tuesday.
“I can confirm that we are looking at the insider trading allegations but am not in a position to discuss further details,” the FSB deputy executive officer of investment institutions, Rob Barrow, said.
He added that further announcements will be made after the probe has been completed but could not give an indication of when he expected it to be finalised.
However, he noted that it could take a while because the FSB has to follow investigation procedures.
The company’s shares fell to an all-time low of 18 cents per share last week from about 76 cents per share in January. — I-Net Bridge