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ECSPONENT LIMITED - FSCA debars the key individuals of Ecsponent Financial Services Proprietary Limited

Release Date: 12/06/2020 14:27
 
Wrap Text
FSCA debars the key individuals of Ecsponent Financial Services Proprietary Limited

ECSPONENT LIMITED
Incorporated in the Republic of South Africa
Registration number: 1998/013215/06
JSE Code: ECS - ISIN: ZAE000179594
Debt Issuer Code: ECSD
Hybrid Issuer Code: ECSH
(“the Company” or “Ecsponent”)

ECSPONENT FINANCIAL SERVICES PROPRIETARY LIMITED: DEBARMENT OF KEY INDIVIDUALS AND FINANCIAL SECTOR CONDUCT AUTHORITY PRESS RELEASE

Security holders are referred to the announcements released on SENS on 20, 22 May 2020 and 5 June 2020
relating to the non-routine investigation conducted by the Financial Sector Conduct Authority (“FSCA”)
involving the Company’s subsidiary, Ecsponent Financial Services Proprietary Limited (“EFS”).

The FSCA has finalised their investigation and a press release in this regard has been made available on
the FSCA’s website:
https://www.fsca.co.za/News%20Documents/FSCA%20Press%20Release%20Ecsponent%20FS%20debar
ments%2012%20June%202020.pdf

Security holders are now informed that the FSCA decided to debar the key individuals of EFS for a period of
two years.

The Company and EFS consider the FSCA’s investigation, which focused solely on the advice and
intermediary activities of EFS and not those of Ecsponent, to be finally concluded and regards the matter as
closed.

The Company advises that EFS has, with effect from 11 February 2020, not provided financial advice on any
new business and the Company will resolve to unwind EFS.


12 June 2020
Pretoria

Sponsor to Ecsponent
Questco Corporate Advisory (Pty) Ltd

Date: 12-06-2020 02:27:00
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