GOVERNMENT GAZETTE UPDATE

• the eGazette is still offline, and
• the South African Government website ‘documents’, ‘latest’ section has not been updated since 1 February.

FINANCIAL SECTOR CONDUCT AUTHORITY

• Extensions have been granted to two timeframes in the June 2020 joint standard on margin requirements for non-centrally cleared over-the-counter derivative transactions. The extensions have implications for phasing in initial margin requirements, and the variation margin.
• Two exemptions granted in March 2020 with implications for independent intermediaries governed by regulations under the Long-term Insurance and Short-term Insurance Acts have  been extended:
  • notice extending exemption affecting long-term insurance intermediaries
  • notice extending the exemption affecting short-term insurance intermediaries.

JOHANNESBURG STOCK EXCHANGE (JSE)

• Draft amendments to the listing requirements for actively managed certificates have been released for public comment.
• Input is also sought on two separate sets of changes to the rules and directives on equities.
• A consultation document entitled, ‘Cutting red tape’ with the aim of more ‘effective and appropriate regulation’ has been released for public comment.

Prepared by Pam Saxby