eXcentral

OM Bridge (Pty) Ltd has agreed to pay a R3.1 million fine as part of a settlement with the Financial Sector Conduct Authority (FSCA) after its broker's license was provisionally withdrawn in 2021. The agreement, signed by director Ori Mishkal, follows an investigation into potential violations of financial sector laws. The FSCA concluded its investigation in May 2022, and the agreement includes a seven-year prohibition on Mishkal from providing financial services. The FSCA also debarred two other implicated parties for five and ten years, respectively. Additionally, funds belonging to OM Bridge were forfeited to the state under Exchange Control Regulations.

OM Bridge (Pty) Ltd has agreed to pay a R3.1 million fine as part of a settlement with the Financial Sector Conduct Authority (FSCA) after its broker's license was provisionally withdrawn in 2021. The agreement, signed by director Ori Mishkal, follows an investigation into potential violations of financial sector laws. The FSCA concluded its investigation in May 2022, and the agreement includes a seven-year prohibition on Mishkal from providing financial services. The FSCA also debarred two other implicated parties for five and ten years, respectively. Additionally, funds belonging to OM Bridge were forfeited to the state under Exchange Control Regulations.