Regulation: FSB probes its ex-finance chief

The Financial Services Board (FSB) would investigate its former chief financial officer, Dawood Seedat, for alleged corruption, it said yesterday. “The investigation is so thorough as to include a full internal audit supported by the office of the auditor-general. If any finding is made, a full forensic investigation will be conducted,” it said. “We will continue to require from our employees the highest standards of honesty and integrity.” On June 13 the FSB said Seedat had resigned after “corruption allegations [were] levelled against him in his personal capacity”. The FSB said these allegations were deeply concerning. On June 20 The Star reported that Seedat had been accused of demanding millions of rands in bribes to make an audit of Africa Cash and Carry disappear. The FSB said this fell outside the FSB’s regulatory work and related to Seedat’s knowledge of the tax regime as a former SA Revenue Service employee. – Sapa