LICENSED EXCHANGE TRADING PLATFORMS: SHORT SALES REPORTING AND DISCLOSURE REQUIREMENTS

LICENSED EXCHANGE TRADING PLATFORMS: SHORT SALES REPORTING AND DISCLOSURE REQUIREMENTS

• 01 April 2023
• Financial Sector
• SA Legal Academy

The Financial Sector Conduct Authority (FSCA) has called for input by 17 May 2023 on a draft conduct standard for the reporting and disclosure of short sales. The proposed new standard is informed by stakeholder comments on a discussion paper released in November 2018.

Intended to align South Africa’s regulatory framework with international standards, once in force the standard is expected to:

• assist ongoing efforts to ‘deter market abuse and reduce the risk of disorderly markets’, and
• provide early warning signs of a build-up of large short positions, with their associated potential for market abuse and systemic risk.

For more information, please click the links below:

• draft standard
• statement of need
• FSCA communication
• comments template

Published by SA Legal Academy Policy Watch

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