The Financial Sector Conduct Authority raided Dr Iqbal Survé’s offices in Cape Town and tried to confiscate laptops and computer hard drives. Picture: Ayanda Ndamane/African News Agency (ANA)

Cape Town - The Public Servants Association has warned against the use of double standards by the Financial Sector Conduct Authority when it raided the offices of Sekunjalo Group.

The PSA said in a statement on Saturday the authority did not conduct similar raids against major corporations involved in wrongdoing. 

It said there were major companies including retail giant Steinhoff, technology company EOH and others who did not conduct themselves properly but there was no action against their officials.

Sekunjalo, which owns Independent Media, was raided on Wednesday with chairperson Dr Iqbal Survé accusing the FSCA of abuse of power.

PSA said there must be equal treatment of companies.

“The union pointed out that since it raided the offices of Steinhoff International Holdings in 2017 no authorities have ever made any attempt to take any action following the accounting at this company where public servants lost over R17 billion of their hard-earned pension savings,” said PSA.

Sekunjalo has said it would launch a multi-million rand lawsuit against the FSCA, but the latter said it would defend any claim against it.

Political Bureau