Did the FSCA break the law by handing over investigation records in a court case against Banxso (Pty) Ltd? That’s one of the questions Judge Andre le Grange will decide when he hands down his judgment.
Banxso wants certain evidence thrown out of court – evidence its former client used to back a provisional liquidation application. The company claims the FSCA acted unlawfully by sharing confidential interview transcripts. It argues the subpoena used to obtain the material wasn’t valid in motion proceedings and that the FSCA breached confidentiality laws.
But the FSCA stands by its actions. In its heads of argument dated 24 April 2025, the Authority says the subpoena was valid, and sharing the information was legal and within its…
