The Financial Sector Conduct Authority (FSCA) has called for input by 8 November 2024 on proposed amendments to the Johannesburg Stock Exchange equities rules. Focusing on off-book bookbuild trades, they were published on the FSCA website three days after the notice concerned was gazetted. This has come to be standard procedure with draft amendments to JSE rules, listing requirements and other developments requiring stakeholder input – despite eating into an already limited public consultation timeframe.
According to an explanatory memorandum on the amendments envisaged, once operational they will ‘permit single member bookbuild trades, thereby allowing (the) clients of a bookbuild manager to participate’ in the process.
Published by SA Legal Academy Policy Watch
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