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Roles and responsibilities of Designated Advisors

The main role of a Designated Adviser (DA) is to competently, professionally and impartially advise the applicant company on all its responsibilities during the application process and it’s responsibilities to maintain its status once listed.

The Designated Adviser is the guardian of the listed company’s compliance with the JSE Listings Requirements and other applicable regulation as defined.

The Designated Adviser must ensure that:

• the company complies fully with the applicable JSE and AltX Listings requirements;
• all relevant documentation required by the Listings Requirements has been submitted;
• each company brought to the JSE by the DA is suitable for listing;
• each pre-listing statement is compliant with the Listings Requirements and has been completed accurately and fully, without omissions and/or without misleading or false information;
• all directors of each company have the necessary expertise and experience, understand the nature of their responsibilities under the Listings Requirements, the Companies Act, the SRP Code and GAAP, are aware of the expectation to prepare and publish all information necessary and that Directors’ declarations need confirmation and verification;
• all new appointees to the board of directors of the company are fully briefed as to the nature of their responsibilities;
• all directors complete the Directors Induction Programme within 2 months of their appointment (if newly appointed) or upon confirmation of acceptance on AltX;
• the directors of each company are informed on time of any amendment to the Listings Requirements or other regulations;
• all periodical financial information announcements are reviewed with the directors prior to publication to check accuracy and full disclosure;
• regular reviews are held of the company’s actual trading performance and financial condition to ensure appropriate disclosure of information to investors;
• at least one of the DAs attends all company board meetings in an advisory capacity.

How to become a Designated Advisor

In order to become a Designated Advisor you need to comply with all the requirements for a JSE Main Board Sponsor. These may be found in Section 2, Schedule 16 of the full JSE Listing Requirements, which are obtainable from Butterworths at www.butterworths.co.za.