NATIONAL ASSEMBLY APPROVAL OF FINANCIAL MARKETS BILL AND CREDIT RATING SERVICES BILL

Tuesday, September 11, 2012
  • SHARE THIS ARTICLE

We have been informed that that the Financial Markets Bill was approved today by the National Assembly. The Financial Markets Bill will replace the current Securities Services Act, 2004 and will regulate the trading of all securities (listed and unlisted) in South Africa. Last week, the National Assembly also approved the Credit Rating Services Bill. The Credit Rating Services Bill seeks to impose first-time regulation on credit rating agencies and the issuance of credit ratings in South Africa. Both Bills will be referred to the National Council of Provinces for concurrence.

Read further