The National Treasury has published, for public comment by 7 Nov 2018, a draft Financial Sector Laws Amendment Bill which has been approved by the Cabinet. The Treasury states that the Bill gives effect to proposals in its 2015 discussion document Strengthening South Africa’s Resolution Framework for Financial Institutions. The amendments will, it is said, strengthen the ability of the Reserve Bank to manage the orderly “resolution” or winding down of a failing financial institution, with minimum disruption to the broader economy.To view the full submission, click here.
Publish date: 24 October 2018
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