The Johannesburg Stock Exchanges JSE decision to fine and ban Thabi Leoka, former director of several listed companies, has been welcomed.
The local bourse announced that the disgraced director will face a R500,000 fine for lying about her doctorate qualification.
In a statement, the JSE says the penalty will include Leokas immediate disqualification from holding any office or directorship of a company listed on the JSE for five years.
The JSE says it afforded Leoka numerous opportunities to provide it with confirmation that she held a PhD in economics. However, she was not willing to co-operate with the investigTations into her qualification.
The JSEs decision to fine and ban Leoka is welcomed by many as this warns others against dishonesty.
