South Africa: Financial Sector Assessment Program-Detailed Assessment of Implementation on the IOSCO Objectives and Principles of Securities Regulation

International Monetary Fund

No 2015/057, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses findings of the Detailed Assessment of Implementation on the IOSCO (International Organization of Securities Commissions) Objectives and Principles of Securities Regulation in South Africa. Although South Africa’s level of implementation of the IOSCO principles is complete in several areas, there is room for enhancement. The legal framework is robust and provides the authorities with broad supervisory, investigative, and enforcement powers. There are arrangements for on-site and off-site monitoring of regulated entities. The powers to cooperate with domestic and foreign counterparts are extensive. Accounting and auditing standards are high, as is the disclosure regime that applies to listed companies in practice.

Keywords: ISCR; CR; hedge fund; The JSE; executive officer; JSE rule; market infrastructure; clearing member; business plan; equities rule; Securities; Stocks; Financial statements; Hedge funds; Africa (search for similar items in EconPapers)
Pages: 252
Date: 2015-03-03
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