Overview of the Available Remedies for Market Abuse Victims under the Financial Markets Act 19 of 2012
This article analyses the use of selected and available remedies for market abuse victims as stipulated in the Financial Markets Act in order to investigate the adequacy of such remedies as regards the affording of adequate damages to the affected persons and the combating of market abuse practices in South Africa. To this end, the article provides an overview analysis of compensatory damages, administrative damages and actual calculable damages that are employed under the Financial Markets Act in a bid to provide appropriate and equitable redress to the victims of market abuse practices in South Africa. Moreover, where possible, the article will also provide a comparative analysis of these remedies and those that were provided under the Securities Services Act. This is done to examine whether the market abuse remedies that were re-introduced under the Financial Markets Act have now adequately resolved the flaws and gaps that were associated with similar remedies under the former Act. This is further done to recommend, where possible, other measures that can be employed to combat such flaws in South Africa.
This work is licensed under Creative Commons Attribution 3.0 License.
Mediterranean Journal of Social Sciences ISSN 2039-9340(Print) ISSN 2039-2117(Online)
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