South Africa’s ‘twin peaks’ regulatory model goes live
Sarb takes control of prudential regulation and new conduct regulator opens its doors
On April 1, South Africa’s regulators witnessed the culmination of at least seven years of preparation, as they launched the country’s new “twin peaks” regulatory model.
Much like in the UK, the South African financial system will now be overseen by a prudential regulator housed at the central bank – the Prudential Authority – and a separate conduct regulator – the Financial Sector Conduct Authority.
South African Reserve Bank deputy governor Kuben Naidoo has been appointed as the first chief
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