In Johannesburg, South Africa today, the enforcement committee of the Financial Services Board imposed a penalty of R150,000 (approximately US$20,000) on Marius Meyer. Meyer was found guilty of violating section 73 of the Securities Services Act 36 of 2004 (insider trading).
Fin24 reports that Meyer is a director and executive of advising firm Exchange Sponsors. The case reportedly related to transactions in Wescoal Holdings executed on behalf of Meyer. Exchange Sponsors is the designated adviser to Wescoal.