Regulatory Alerts2025-06-03
Joint Standard of 2025: Criteria for Exempting External CCPs and Trade Repositories from the FMA
The Prudential Authority and Financial Sector Conduct Authority issued this Joint Standard of 2025 to establish clear criteria for exempting external central counterparties and trade repositories from specific provisions of the Financial Markets Act. The framework requires exempted entities to operate in jurisdictions deemed equivalent to South Africa, comply with prescribed regulatory benchmarks, and maintain active information-sharing agreements with domestic regulators. By clarifying that exemption does not automatically waive licensing requirements or mandate a local presence, the standard facilitates cross-border clearing services while preserving market integrity and aligning South Africa’s regulatory structure with G20 standards.
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