Regulatory Alerts2019-04-08
FSRA Joint Communication 2 of 2019: Draft Joint Standard on Margin Requirements for Non-Centrally Cleared OTC Derivative Transactions
The Financial Sector Conduct Authority and Prudential Authority, with the concurrence of the South African Reserve Bank, have published a revised draft joint standard prescribing margin requirements for non-centrally cleared over-the-counter derivative transactions. Issued under the Financial Sector Regulation Act, 2017, the standard establishes regulatory frameworks to mitigate counterparty credit risk in bilateral derivative markets. The publication includes a consultation report and impact statement, with the authorities inviting public submissions via designated email addresses to inform the final regulatory implementation.
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