Insiders say that leading up to the sacking of Capital Market Development Authority CEO, Mereia Volavola, she was aggresively pursuing an investigation into FHL and Unit Trust of Fiji, two controversial public companies that has attracted public attention and scrutiny for their lack of corporate governance and poor business acumen, when her contract was aborted two days ago.
It is said that Mereia was demanding full disclosures from FHL and Unit Trust of Fiji board and management for what she termed, “intentional violation of capital markets rules and regulations by the two entities that has severely put members of the public’s shares and units under real high risk”.
While Mereia Volavola’s sacking as a regulatory watchdog is unfortunate, why is it then that the real thieves and law-breakers at FHL and Unit Trust are still allowed to carry on without any full investigation into their unscrupulous mismanagement of shareholders and unit- holders funds?
Posted by rawfijinews
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The more information that gets out into the public arena, the better.
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