Draft Joint Standard on Margin Requirements for Non-Centrally Cleared OTC Derivative Transactions

Financial Sector Regulation Act, 2017: Joint Communication 2 of 2019 – Draft FSRA Joint Standard on Margin Requirements for non-centrally cleared OTC derivative transactions 1 Ref.: 15/8 Financial Sector Regulation Act, No. 9 of 2017 Joint Communication 2 of 2019 DRAFT JOINT STANDARD ON MARGIN REQUIREMENTS FOR NON-CENTRALLY CLEARED OVER-THE-COUNTER (OTC) DERIVATIVE TRANSACTIONS The Financial Sector Conduct Authority and the Prudential Authority, acting with the concurrence of the South African Reserve Bank, today publish the revised draft joint standard which prescribes margin requirements for non-centrally cleared OTC derivative transactions in terms of sections 106(1)(a), 106(2)(a) and (e) read with sections 107 and 109(2) of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017) (FSRA). The consultation report, together with the draft Statement of the need for, expected impact and intended operation of the joint standard and the notice inviting submissions as contemplated in section 98(1) of the FSRA are also published with the draft joint standard. Requests for further information about the joint communication or draft joint standard may be submitted via email to FSCA.JointStandardComments@fsca.co.za for the attention of Ms Elmarie Hamman and PA-Standards@resbank.co.za for the attention of Ms Lyle Horsley. FINANCIAL SECTOR CONDUCT AUTHORITY PRUDENTIAL AUTHORITY DATE: 08 APRIL 2019