UPDATE ON ANUSHKA vs JSE: Further Developments

Yesterday, 20th August 2025, Risk Insights received a Cease & Desist Letter from the JSE’s legal representatives referring to: a contract between RI and JSE of 2nd February 2025, a SENS Announcement of 25 July 2025, as well as a copy of JSE letter referring to the contract between JSE and RI of 2 February 2025 and an incorrect SENS Announcement with a future date of 25 August 2025.

According to both letters, JSE rescinded the contract because Anushka failed to disclose material facts, resulting in the imposition of a public censure. We confirm that the JSE senior executives were informed of the investigation of Ms. Bogdanov while executing the contract between RI and JSE. Both documents received from the JSE refer to the incorrect date of the contract and therefore have been returned to JSE for clarification.

Risk Insights remains committed to good governance and full transparency and will share further details in due course.