Enforcement Committee fines lawbreakers

The Enforcement Committee of the Financial Services Board (FSB) recently handed down the following fines:

The Enforcement Committee found that Hendricks and Mohlaba had contravened the Securities Services Act by manipulating the share prices of Afgri Limited, Metair Investments Limited and Palabora Mining Limited from January to March 2009, and the share price of Comair Limited during March 2010.

The Enforcement Committee is an administrative justice body that may impose penalties, compensation orders and cost orders on respondents that are found to have contravened any law administered by the FSB.