The Market Abuse Department is a department within the Financial Services Board which carries out the mandate
of the Directorate of Market Abuse.
The Directorate of Market Abuse is a committee of the Financial Services Board with the statutory mandate to
investigate cases of Market abuse and to enforce the prohibitions against market abuse in the Securities Services Act, 36 of 2004 (SSA).
Market abuse consists of insider trading (prohibited in section 73 of the SSA), market manipulation (prohibited in
section 75 of the SSA), and false reporting (prohibited in section 76 of the SSA).
If the Directorate of Market Abuse finds that the SSA has been contravened it may refer the matter, to the Enforcement Committee of the FSB for
enforcement action to be instituted against the offender, to the National Prosecuting Authority for Criminal prosecution or for Civil action.
The prohibitions against market abuse, the penalties and the Directorate of Market Abuse's powers to investigate are set out in Chapter VIII (sections 72 to 87) of the SSA.
The Directorate of Market Abuse releases a press release after every meeting to update the public on its current investigations. Every enforcement action is published once it is completed.