Explanatory memorandum: proposal for a directive on implementing interoperable and cooperative arrangements between market infrastructures

The Financial Services Board has published Explanatory memorandum: proposal for a directive on implementing interoperable and cooperative arrangements between market infrastructures. "This document is an invitation for comments on a proposed directive on implementing interoperability and cooperation between MIs as defined in terms of the FMA 1 . Having taken cognisance of the implementation difficulties between existing and new MIs which point to the requirement for regulatory intervention to maintain the integrity of the financial markets, it is important that the Registrar continues to meet his objectives in terms of the FMA and the objectives of regulation and supervision of securities services in South Africa in the face of new developments in the markets. The Registrar wishes to ensure that the South African financial markets are fair, efficient and transparent and supportive of the stability of the broader financial system."​

Please submit comments by 11 April 2016 to  Michael.Kabai@fsb.co.za or Kgomotso.Molefe@fsb.co.za.