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FINANCIAL MARKETS: REVISED DRAFT CONDUCT STANDARD OUT FOR COMMENT
- 09 April 2024
- Financial Sector
- SA Legal Academy
The Financial Sector Conduct Authority has called for input by 23 May 2024 on a draft standard for all locally operating market infrastructures. Released with a statement of need and accompanying communication notice, the draft expands the scope of a May 202 iteration, which focused on exchanges with common authorised users. Once finalised and in force, the new standard will apply to all market infrastructures licensed under the Financial Markets Act, 2012.
Intended to address the effects of market fragmentation, the proposed new standard seeks to ‘set a regulatory framework’ that:
- pre-empts the risks associated with a market environment in which multiple infrastructures deal with the same authorised users or commonly listed securities, and
- ‘place(s) obligations on financial market infrastructures regarding interoperability and co-operation’.
This is expected to ‘ensure’ the ‘orderly functioning, fairness, efficiency and transparency’ of South Africa’s financial markets.
Input should be made using the template provided.
- draft conduct standard
- communication notice
- statement of need
- comments template
Published by SA Legal Academy Policy Watch
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