JP Markets v Financial Sector Conduct Authority (FSCA) (460/2021)
JP Markets v Financial Sector Conduct Authority (FSCA) (460/2021) [2021] ZASCA 148; 2022 (4) SA 94 (SCA) (20 October 2021)
The Supreme Court of Appeal held that the Financial Sector Conduct Authority was authorised under section 96 of the Financial Markets Act to apply for the liquidation of JP Markets SA (Pty) Limited, as the requirement that an investigation had been conducted was satisfied by the ongoing investigation. However, the Court found that the evidence did not establish systemic risk or misconduct justifying liquidation. JP Markets was solvent, had applied for an ODP licence, and alternative remedies were available. Liquidation prior to the determination of the licence application would not achieve th…
Source excerpt
- Financial Markets Act
- Otc Derivatives Regulation
- Just And Equitable Winding Up
- Licensing Requirements
- Alternative Remedies
- Public Interest