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CAPITAL MARKETS: OVER-THE-COUNTER DERIVATIVE PROVIDER REPORTING REQUIREMENTS
- 07 October 2026
- Financial Sector
- SA Legal Academy
The Financial Sector Conduct Authority (FSCA) recently posted a raft of regulatory proposals under the ‘documents for consultation’ page on its website that should have been released earlier. One still open for comment focuses on draft reporting requirements for over-the-counter (OTC) derivative providers using the quantitative portfolio margin model. The deadline for input is 12 October 2026.
According to an accompanying communication, the proposed new reporting requirements were developed by the FSCA in liaison with the Prudential Authority and released on 31 August 2026. At the time of writing, they had yet to be posted on the Prudential Authority website.
The proposals follow a 2024 determination published as Joint Communication 2, effective from 1 April 2025 – and applicable to OTC derivative providers entering into a non-centrally cleared OTC derivative transaction with a counterparty or a foreign counterparty, and to any financial institution that is a counterparty. They have since been found not to be ‘sufficiently granular for the purposes of supervisory analysis’ of providers approved to use the quantitative portfolio margin model.
The proposed new requirements seek to address this.
Possibly related to these developments is a joint discussion paper released on 31 March 2026 proposing eligibility criteria for the mandatory central clearing of over-the-counter derivative transactions. The deadline for input was 5 June 2026. However, together with the accompanying joint communication, the paper was only recently posted in the ‘capital markets’ section of FSCA website’s ‘documents for consultation’ page. As far as can be ascertained, it has never been published on the Prudential Authority website.
- draft quantitative portfolio margin model reporting requirements
- joint communication
- comments template
- Joint Communication 2 of 2024
- March 2026 joint discussion paper (expired commentary deadline)
- related joint communication
Published by SA Legal Academy Policy Watch
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