Transformation of the Financial Sector Report Drawn Up

National Treasury

The 1st Report on the Transformation of the Financial Sector has been released.

According to a statement issued by the standing committee on finance and the portfolio committee on trade and industry, the 1st report follows extensive public hearings held on 14 March, 22 March and 3 May 2017.

A 2nd report will be finalised within six months of the financial sector summit.

Some of the key recommendations contained in the report focus on abiding by the Financial Sector Code and market concentration, monopolization and ownership.

In a separate matter, the Division of Revenue Amendment Bill has been passed by parliament and sent to president Zuma for assent.

In Gazette 41270, the Financial Services Board (FSB) has published approved amendments to the JSE Listings Requirements.

The amendments kick in on 18 December 2017.

The FSB has also published proposed amendments to the JSE Exchange Rules – Block Trades and Off-Order Book Principal Trades.

Comment is invited within 14 days of the date of publication.

Sabinet Cape Town Office