Financial Services Tribunal overturns R2.5m fine against deVere CEO Nigel Green | Business

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The Financial Sector Tribunal has overturned a decision to levy a R2.5 million fine against founder and CEO of deVere Nigel Green related to the marketing of unapproved foreign collective investment schemes. | News24_Business

The Financial Services Tribunal has set aside a R2.5m fine levied against deVere CEO Nigel Green.

It has also set aside his five-year disbarment as a director, though this matter has been referred back to the regulator.against Brite Advisors SA - formerly deVere SA - and withdrew its license. It also made a finding against Green, who was a non-resident director of deVere SA from 2008 to 2015. 2 refers to a requirement that institutions or individuals"observe the utmost good faith and exercise proper care and diligence" with regards to funds, while 2 concerns the discharge of powers and duties. Green had not asked to respond to allegations he contravened 2, and the FSCA had initially thought he contravened a different section to that of 2, the judgement reads.

Green said in a statement on 5 January that he had fully cooperated with the authority during the inspections, and consistently refuted the allegations against him.

 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.

_Business Maybe Mark Jooste must approach them for appeal you advise?

لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

 /  🏆 4. in AE

الإمارات العربية المتحدة أحدث الأخبار, الإمارات العربية المتحدة عناوين