Media statement issued 20 September 2018

The Constitutional Court today closed the door on the skeletons that the Financial Services Board has been trying to hide in its judgement on Rosemary Hunter’s application for the cancellations by the FSB of 4,600 funds to be investigated. Beside the R250-million of Nkandla, the R5-billion graft of the arms deal or the billions lost to Gupta-ite capture, the pillaging of potentially hundreds of millions of rands of workers’ savings in provident and pension funds that are unpaid will remain hidden for now. The Court judged that the FSB (now known as the Financial Sector Conduct authority, FSCA) had done enough to review the cancellations and had acted in good faith, despite: