Regulatory Alerts2018-03-31
PF Circular 95: Central Security Depositories for Pension Funds
The South African Financial Services Board issued Circular PF 95 to direct pension funds to adopt Central Security Depositories for the electronic custodial safekeeping of securities. The document details the existing framework for fixed-income instruments and outlines the upcoming STRATE system for equities, both operating under FSB supervision and the Safe Deposit of Securities Act. Implementing these centralized electronic settlement mechanisms will enable funds to achieve faster transaction processing, eliminate physical certificate risks, and comply with evolving international market standards.
Share