{"id":130032,"date":"2016-07-14T09:41:14","date_gmt":"2016-07-14T07:41:14","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=130032"},"modified":"2016-07-14T09:41:14","modified_gmt":"2016-07-14T07:41:14","slug":"discovery-to-be-investigated-for-insider-trading","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/130032\/discovery-to-be-investigated-for-insider-trading\/","title":{"rendered":"Discovery to be investigated for insider trading"},"content":{"rendered":"<p>Financial services firm, Discovery is set to be investigated by local regulators for possible insider trading, according to a report by Reuters.<\/p>\n<p>Shares in the company declined noticeably a day before it published a somber trading update in February, the insurer told Reuters.<\/p>\n<p>Discovery shares declined as much as 5.5% on 16 February 2016, a day before the company said it expected a fall of as much as 55% in first-half profit.<\/p>\n<p>Discovery said it reported the unexpected share price move to the Johannesburg Stock Exchange (JSE) who in turn notified the Financial Services Board (FSB).<\/p>\n<p>&#8220;We are co-operating fully with the FSB in their inquiry,&#8221; chief financial officer Richard Farber told Reuters.<\/p>\n<p>The head of FSB&#8217;s directorate of market abuse, Solly Keetse, said the regulator would disclose the details of the investigation when the report was complete.<\/p>\n<h3 class=\"my-4\">More on Discovery<\/h3>\n<p><a href=\"http:\/\/businesstech.co.za\/news\/banking\/105325\/more-details-emerge-on-discovery-bank-launch\/\" target=\"_blank\"><strong>More details emerge on Discovery bank launch<\/strong><\/a><\/p>\n<p><a href=\"http:\/\/businesstech.co.za\/news\/banking\/97995\/discovery-to-launch-a-retail-bank\/\" target=\"_blank\"><strong>Discovery to launch a retail bank<\/strong><\/a><\/p>\n<p><a href=\"http:\/\/businesstech.co.za\/news\/finance\/127629\/south-africans-rank-the-best-and-worst-medical-aids-in-the-country\/\" target=\"_blank\"><strong>South Africans rank the best and worst medical aid schemes<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial services firm, Discovery is set to be investigated by local regulators for possible insider trading, according to a report by Reuters.<\/p>\n","protected":false},"author":10,"featured_media":105381,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[25,4883],"class_list":["post-130032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-active","tag-discovery"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/130032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=130032"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/130032\/revisions"}],"predecessor-version":[{"id":130036,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/130032\/revisions\/130036"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/105381"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=130032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=130032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=130032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}