Clive Roffey responds to critics

Technical analysis guru does not admit to trading on behalf of clients.

I am aware that the Financial Services Board (“FSB”) has received a complaint from a member of the public who seemingly is disgruntled at certain losses from a high risk investment pursued by a member of his family purportedly by placing reliance on certain technical analyses performed by me. Complaints of this nature I am advised are not uncommon from investors who do not achieve their expected returns.

The FSB is a statutory authority imbued with the power to investigate complaints that fall within its jurisdiction. As a financial man I welcome initiatives that further the rights of investors. To date I have not received any properly motivated enquiry from the FSB nor from any other statutory authority concerning the above complaint or any other matter in which my technical analyses may have been wholly or partly relied upon. Should I receive any request to co-operate or provide information that may be of assistance to authorities having the requisite jurisdiction I shall of course unreservedly do so

In the circumstances and in the interests of affording any complainant and/or interested party the fairest opportunity to present his/her case, I believe that it would be inappropriate for me to comment or speculate upon limited information concerning the substance of the alleged complaint. I am confident that any investigation will exonerate me entirely from any allegations of wrongdoing. I therefore reserve my right to comment upon the findings of the FSB in due course. In the interests of fairness to both sides I would ask the media to allow the process to take its natural course and to afford the authorities the opportunity required to fully investigate the matter before usurping the authority of the FSB and passing judgment on any party.

Finally I would like to take this opportunity to thank the countless members of the financial and investment community who have sent me a plethora of correspondence voicing their support. To those of you who have offered to make representations to the FSB on my behalf, without wishing to sound ungrateful, I would ask you also to allow the process to take its natural course. The fullness of time will demonstrate that both losses and gains are part of the investment process and forever shall be.

Dr. Clive Roffey

October 21st 2012

To read about the complaint against Roffey, see: Clive Roffey lost me R338 000 – investor.

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