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TEST TEST TEST TEST TEST

Published: 2024-02-17 12:42:19 ET
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TEST TEST TEST TEST TEST




The JSE currently acts as the frontline regulator, setting listings requirements and enforcing trading rules, while the
financial sector conduct authority (FSCA), supervises the JSE in the commission of its regulatory duties. As the JSE
has no criminal or civil jurisdiction, the FSCA also processes any cases where legislation has been contravened.

A new regulatory oversight framework – the ‘twin peaks’ model’ was recently introduced in the South African
financial market. The two new ‘twin peaks’ regulators: prudential authority (PA) and FSCA, were established on 1
April 2018. The PA, which is established within the Reserve Bank, is responsible for prudential supervision of banks,
insurance companies and market infrastructures (e.g. exchanges and clearing houses). The FSCA is responsible for
the supervision of the conduct of financial institutions including market infrastructures and replaces the financial
services board (FSB).

The JSE will continue to act as frontline regulator, reporting to the FSCA as the lead regulator.