Regulatory Alerts2023-11-02
FSCA Communication 28 of 2023 (FM) on Financial Benchmarks and Industry Questionnaire
The Financial Sector Conduct Authority (FSCA) has published a Discussion Document outlining its proposed regulatory framework for the oversight of financial benchmarks in South Africa. The document invites industry participants and the public to complete a structured questionnaire by 14 December 2023, providing data on benchmark administrators, index categories, and quantitative thresholds for classifying benchmarks as critical or significant. This consultation process will inform the FSCA’s future determination of specific indices under the Financial Sector Regulations Act and align domestic benchmark standards with international best practices.
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