JOHANNESBURG - The Commission of Inquiry into alleged improprieties at the Public Investment Corporation (PIC) enters another week today in Pretoria.
Judge Lex Mpati is assisted by Gill Marcus, former governor of the SA Reserve Bank and a board member of Glencore, and Emmanuel Lediga, founder of Legae Securities. Lediga has experience in equities research and trading, bonds, money-market, private client services (including portfolio management), hedge funds, corporate finance, capital raising and black empowerment initiatives.
The commission is mandated to look into whether a director or employee of the PIC misused their position for personal gain; whether legislation or policies regarding the protection of whistle-blowers reporting corrupt activities were complied with; and whether discriminatory practices were followed with regard to the remuneration and performance awards of PIC employees. It has a mandate to examine and make recommendations on governance, structure of the PIC and any other matter that it deems warrants attention.
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