Regulatory Alerts2020-06-02
Joint Communication 6 of 2020: Margin Requirements for Non-Centrally Cleared OTC Derivatives
The Financial Sector Conduct Authority and Prudential Authority, with concurrence from the South African Reserve Bank, have issued Joint Standard 2 of 2020 to prescribe margin requirements for non-centrally cleared over-the-counter derivative transactions. Operating under the Financial Sector Regulation Act 2017, the standard establishes compliance obligations for market participants and is accompanied by a consultation report outlining its expected impact and intended operation. The regulators will determine the effective date through continued stakeholder engagement, ensuring a coordinated implementation across the financial sector.
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