South Africa’s financial regulator has levied a 475 million rand ($25 million) fine on Markus Jooste, the former chief executive officer of scandal-hit Steinhoff International Holdings NV,marking an escalation in the more than six-year saga.
The Financial Sector Conduct Authority’s fine, which includes 10 million rand in costs for the investigation incurred by the regulator, was slapped on Jooste for making and publishing false, misleading or deceptive statements about the company. The executive has to pay the amount in 30 days from March 19, Unathi Kamlana, commissioner of the FSCA said in a briefing on ...
