Johannesburg - The National Treasury said on Thursday it has asked the Financial Services Board (FSB) to consider launching a market abuse probe into Viceroy Research after its report on Capitec sparked a sell-off in the stock.
Earlier this week, Viceroy Research has accused Capitec of underhanded business practices and called it a 'wolf in sheep’s clothing' and believes the bank to be a 'loan shark'.
Viceroy Research has called on Finance Minister Malusi Gigaba and the SA Reserve Bank to immediately place it into curatorship.
The Reserve Bank refused, saying the bank “meets all prudential requirements.”
The National Treasury also asked the FSB to alert relevant overseas regulators, such as the Securities and Exchanges Commission in the US and the Financial Conduct Authority in Britain, to consider whether Viceroy is regulated appropriately, it said in a statement.
Reuters and IOL