Regulatory Alerts2018-09-03
2018 Financial Markets Review
National Treasury, the South African Reserve Bank, and the Financial Sector Conduct Authority issued this review to establish comprehensive recommendations for strengthening governance, market conduct, and regulatory oversight in South Africa’s wholesale financial markets. The report mandates proportional governance standards, fit-and-proper vetting, executive accountability, and revised compensation structures to mitigate excessive risk-taking and misconduct across regulated and unregulated entities. It further requires legislative reforms to the Financial Markets Act, the implementation of trade repositories for transparency, standardized benchmark oversight, and enhanced surveillance frameworks for algorithmic trading and over-the-counter markets.