Regulatory Alerts2018-08-17
Draft FSRA Joint Standard on Margin Requirements for Non-Centrally Cleared OTC Derivative Transactions
The Financial Sector Conduct Authority and the Prudential Authority, with the concurrence of the South African Reserve Bank, have published a draft joint standard prescribing margin requirements for non-centrally cleared over-the-counter derivative transactions under the Financial Sector Regulation Act, 2017. The draft standard is issued pursuant to specific sections of the Act and establishes the regulatory framework for margin practices in bilateral derivative markets. The accompanying publication package includes a comments matrix, a statement outlining the standard's need and intended operation, and a formal notice inviting public submissions under section 98(1).
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