For financial markets to function effectively there needs to be some foundation of legal certainty and regulations that reduce the possibility of systemic or institutional failure, fraud, market manipulation and the unfair treatment of investors, particularly retail investors. In addition to internal procedures developed by financial markets themselves there are legal and regulatory frameworks for financial markets developed and implemented by policymakers, regulators and supervisors that are designed to ensure that business is transacted fairly and consumers’ money and assets are adequately protected and also to give confidence to market participants.
This one-day workshop will assist participants to practically manage regulatory changes, particularly those introduced and proposed after the 2007/08 financial-crisis. The workshop provides an introduction to the principal elements of the regulatory environment for South African financial markets. It outlines the respective objectives and roles of existing and proposed regulators, their supervisory approaches, the key concepts of authorisation, supervision and enforcement and the powers available to the regulators in the event that a firm, or an individual, breaches regulatory requirements. In addition major financial reforms such as those aimed at bringing all derivatives trading under the scrutiny of public authorities will be outlined.