Central clearing of standardised OTC derivatives products is already a reality in the US and EU markets. The Financial Markets Act has made provision for it in the South African market, and it will be implemented in phase 3 of the phasing-in process (potentially by Q3 of 2019). This is not far away, when one considers the large number of new legal documents that need to be put in place to support central clearing. The ISDA Master Agreement can form the basis of your clearing

The Financial Markets Act has finally been implemented as of 09 February 2018 (almost four years after it was published). This means the clock has started to tick for compliance on various provisions under the Act ... Cliffe Dekker Hofmeyr’s article clearly sets out the requirements that market participants should be aware of in order to comply. Read it here. DeriviDoc offers training on various elements provided for in the Financial Markets Act. Register here if you would li

The long awaited twin peaks enabling legislation has been passed in Parliament. This is the pre-cursor to the implementation of many of the changes provided for under the Financial Markets Act. Read all about it here (bakermckenzie.com). More information on the Financial Sector Regulation Act will be incorporated into our upcoming course: The Financial Markets Act and its Impact on the OTC Derivatives Market Held on: Thursday 16 November 2017 at the Cellars-Hohenort Hotel in

The Financial Sector Regulation Act was passed in Parliament at the end of June. This article summarises its importance and effect on the financial services industry. 'Twin peaks' Act will give you more protection Want to find out more? Register now for the following upcoming DeriviDoc courses: The Financial Markets Act and its Impact on the OTC Derivatives Market Wednesday 30 August 2017 at the Da Vinci Hotel in Sandton Regulatory Update – How the Financial Markets Act, Dodd

On 20 April 2017 the Registrar of Securities Services published the second draft of the regulations relating to the reporting of over-the-counter derivatives transactions in terms of Section 58 of the Financial Markets Act. The comment period for these draft regulations closed in mid-May. The main aim of the reporting obligations is to create transparency in a previously opaque market, and allow the regulators sight of the OTC derivatives trades, which are being done in the m

Cliffe Dekker Hofmeyr gives an update as to what the status is of the South African margin rules. The Financial Markets Act is being implemented over a phased-in timeline. Read it here. To find out more about how this new legislation will impact the way in which we trade OTC derivatives in South Africa, register for our course: The Financial Markets Act and its Impact on the OTC Derivatives Market (18 May 2017, Johannesburg - register now by clicking here) #FinancialMarketsAc

In June 2016 the South African Securities Lending Association (SASLA) published a new version of the Annex to the Global Master Securities Lending Agreement (GMSLA) for use by South African parties. The Annex is an update of the older 2010 version. The 2016 version primarily deals with new legislation that has come into being since 2010, namely the Financial Markets Act, amendments to the Securities Transfer Tax Act and includes references in the Act of Insolvency provisions

On 21st July 2016 National Treasury published the third draft of the ministerial regulations under the Financial Markets Act No. 19 of 2012, as well as several draft notices relating particularly to OTC derivatives and trade repositories. These are necessary in order that South Africa continue to advance financial reform and regulation in line with G20 recommendations. The draft regulations dealing with margin requirements for non-centrally cleared OTC derivatives were not re