Reforms to the Financial Markets Act and new rules on benchmarks will close gaps and strengthen trust, says FSCA chief Unathi Kamlana.
The Financial Sector Conduct Authority (FSCA) is preparing to overhaul South Africa’s financial markets framework.
The regulator is planning to review the Financial Markets Act (FMA) and a benchmark conduct standard forming the backbone of reforms, Commissioner Umnathi Kamlana (pictured above) said during a keynote address at the South African Institute of Financial Markets Regulatory Summit today.
Kamlana said the FMA review, undertaken in partnership with the National Treasury, reflects how much the market landscape has shifted since the legislation was first introduced.
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