The JSE currently acts as the frontline regulator, setting listings requirements and enforcing trading rules, while the financial sector conduct authority (FSCA), supervises the JSE in the commission of its regulatory duties. As the JSE has no criminal or civil jurisdiction, the FSCA also processes any cases where legislation has been contravened.

A new regulatory oversight framework – the ‘twin peaks’ model’ was recently introduced in the South African financial market. The two new ‘twin peaks’ regulators: prudential authority (PA) and FSCA, were established on 1 April 2018. The PA, which is established within the Reserve Bank, is responsible for prudential supervision of banks, insurance companies and market infrastructures (e.g. exchanges and clearing houses). The FSCA is responsible for the supervision of the conduct of financial institutions including market infrastructures and replaces the financial services board (FSB). 

The JSE will continue to act as frontline regulator, reporting to the FSCA as the lead regulator. 

South Africa was ranked third in the world in terms of the regulation of securities exchanges in the World Economic Forum’s Global Competitiveness Survey for 2016 - 2017. This is an accolade for both the JSE and its regulators.

Announcements regarding listing requirements

June 2021 – The JSE issued an announcement regarding proposed amendments to the Debt Listings Requirements. Kindly see the Explanatory Memorandum and Amendment Schedule, and relevant source documents being (i) Guidelines for Green, Social,

Sustainability and Sustainability-Linked Bonds External Reviews, (ii) Sustainability-Linked Bond Principles and (iii) Climate Transition Finance Handbook. The proposed amendments have further been consolidated in the current Debt Listings Requirements.

May 2021 – The JSE issued a letter dealing with closed period meetings for delisting proposals and offers.

 

March 2021 – The JSE is a Consultation Paper along with a Comments Template.

February 2021  The JSE issued a letter regarding The Issuer Regulation Guide.

February 2021  The JSE issued a letter regarding amendments to the Corporate Actions Timetable  Schedule 2  Form H.

December 2020 – The JSE issued an announcement on proposed amendments to the Headline Earnings circular issued by the South African Institute of Chartered Accountants.

October 2020 – The JSE issued a letter regarding proposed amendments to the JSE Corporate Actions Timetable: Form H1. Please refer to the Explanatory Memorandum

September 2020 - The JSE issued a letter which focuses on disclosure obligations (both from a continuing obligation perspective and when issuers embark on capital raisings) that are beneficial for investors, contributing to transparent price formation and the success of capital raisings.

August 2020 – The JSE issued an announcement dealing with the transitional provisions in respect of the amendments to the Debt Listings Requirements (Part 2 of 2018).  

July 2020 – The JSE released an announcement regarding the approval of the amendments to the JSE Debt Listings Requirements (Part 2 of 2018). Find attached the Final VersionAlso refer to the final marked–up amendments to the JSE Debt Listings Requirements. 

July 2020 - The JSE issued a letter to Audit Committees in respect of paragraph 3.84(g)(iii) of the JSE Listings Requirements. Please also refer to the guidance issued

July 2020 – The JSE issued a letter on directors’ responsibilities on financial controls in respect of paragraph 3.84(k) of the JSE Listings Requirements.  The SAICA prepared document referred to in the JSE letter is accessible here.

June 2020 – The JSE made an announcement regarding amendments to the JSE Debt Listings Requirements in respect of the Sustainability Segment. Find attached the final version of the amendments to the JSE Debt Listings Requirements.

May 2020 – The JSE issued a letter on written resolutions for issue of shares for cash resolutions by Main Board listed issuers. Please refer to the FSCA Market Notice.

May 2020 – The JSE issued a letter on LSE Standard Listings which is now recognised as an equivalent board for secondary listings on both AltX and the Main Board of the JSE

May 2020 – The JSE issued a letter reminding property entities of their disclosure obligations if they defer distributions.

May 2020 – The JSE issued a letter for issuers to remind them of their obligations to they give full disclosure of the impact of COVID-19 in their financial results.

April 2020 - The Financial Sector Conduct Authority issued the attached Board Notice for comments on the amendments to the JSE Debt Listings Requirements (Sustainability Segment). Kindly see the attached Amendment Schedule.

April 2020 – The JSE issued a letter drawing attention to various resources that can assist issuers with their final reporting obligations under the COVID-19 environment.

April 2020 – The JSE issued a further letter to the market regarding the payment of dividends.

April 2020 – The JSE issued a letter to the market regarding capital raising measures and other.

April 2020 – The JSE issued a further letter to the market dealing with a general extension of financial reporting periods. Please see the attached Market Notice.

April 2020 – The JSE issued a further letter to the market dealing with the variation of declared dividends. 

April 2020 – The JSE issued a letter dealing with listed instruments. 

March 2020 - March 2020 – The Financial Sector Conduct Authority issued a letter to the debt market allowing more time to provide comments on the amendments to the Debt Listings Requirements (Part 2 of 2018). 

March 2020 - The JSE issued a letter to the market dealing with the variation of declared dividends. 

March 2020 –  The JSE issued a letter to the market regarding the amendments to the Debt Listings Requirements (Part2 of 2018). See the attached Gazette Notice.

March 2020 – The JSE issued a letter to the market regarding the potential impact of COVID-19 on REITs.

March 2020 – The JSE issued a letter to the market regarding the potential impact of COVID-19 on financial reporting. 

March 2020 – The JSE issued a letter to the market regarding the potential impact of COVID-19 on transitional provisions applicable to Service Issue 27. 

March 2020 – The JSE issued a letter to the market regarding the potential impact of COVID-19 on shareholder meetings. 

March 2020 – The JSE issued a letter to the market regarding the potential impact of COVID-19 on Issuer Regulation.  Kindly note the attached letter .

March 2020 – The JSE issued a letter to the market regarding the potential impact of COVID-19 on the JSE Listings Requirements.  

March 2020 – The JSE issued a letter to the market regarding the potential impact of COVID-19 on the JSE Debt Listings Requirements

February 2020 – The JSE published an announcement regarding amendments to the JSE Debt Listings Requirements (Sustainability Segment). Please review the Explanatory Memorandum and Amendment Schedule.

January 2020 – The JSE released an announcement regarding the JSE Debt Listings Requirements. Kindly see Version 4 of the JSE Debt Listings Requirements, the Compare Version and the Briefing Note.

December 2019 -  The JSE issued a guidance letter on remuneration targets as applied to profit forecasts or estimates.

November 2019 – The JSE issued a letter regarding an update on the proposed amendments to the Debt Listings Requirements

November 2019 –  The JSE issued a letter dealing with transitional provisions relating to its amendments to the JSE Listings Requirements resulting from the JSE Consultation Paper.

November 2019 – The JSE released an announcement regarding amendments to the JSE Listings Requirements resulting from the JSE Consultation Paper issued in September 2018. Please refer to the Amendments Schedule – Primary Listings and Amendments Schedule – Secondary Listings.

September 2019 – The JSE issued an  announcement regarding public consultation in respect of amendments to the Debt Listings Requirements. Please refer to Version 3 of the Debt Listings Requirements, the Comparison Version and the Briefing Note.

September 2019 - The JSE Issued a revised guidance letter on AltX Business Plans.

  • May 2019 - The JSE issued an announcement regarding amendments to the JSE Listings Requirements relating to the reporting of various performance measures including alternative or non-IFRS measures and ratios. Please review the attached Explanatory Memorandum and Amendment Schedule.
     

  • May 2019 - The JSE issued an Update Letter on the new process for the release of financial results on SENS.

The JSE issued a guidance letter on the new process for the release of financial results on SENS

  • September 2018  – The JSE released an announcement regarding proposed amendments to the JSE debt listings requirements.  Please see part 2 of 2018: explanatory memorandum and amendment schedule.
  • September 2018  – The JSE released a consultation paper on possible regulatory responses to recent events surrounding listed issuers and trading in their shares.
  • September 2018  – The JSE released an announcement regarding amendments to the JSE debt listings requirements - Part 1A of 2018.  The amendments are attached for ease of reference.
                                     Also see the implementation letter.

April 2018  – The JSE released an announcement regarding proposed amendments to the JSE debt listings requirements.  Please see Part 1A: explanatory memorandum and amendment schedule

January 2018 – The JSE released an announcement regarding the approval of amendments to the JSE Debt Listings Requirements

January 2018 – The JSE released an announcement regarding amendments to the JSE Listings Requirements.

Contact Information

Conflicts Officer Alwyn Fouchee +2711 520 7678
Refer to the following link for the Issuer Regulation Conflicts of Interest Policy
Corporate Finance
Equities Bernardine Joubert +2711 520 7073
Zakaria Rashid +2711 520 7667
Specialist Products Debt & Specialist Securities +2711 520 7582
Investigations Nadia Jada +2711 520 7968
Proactive Monitoring Tania Wimberley +2711 520 7067
SENS Office Sharon Nair +2711 520 7152
Teboho Tatiso +2711520 7092
Nonhlanhla Mabuza +2711 520 7336
Natasha Fernandes +2711 520 7871

 

Related Documents

JSE LR Guidance Letters July 2019
494.19 KB
25.09.2019 12:10
JSE Letter CA Timetable Feb 2021
464.81 KB
11.02.2021 16:36
Schedule 2 Form H Final 10 Feb 2021
534.19 KB
11.02.2021 17:04
BEE Segment
25.15 KB
27.01.2020 07:30
Capitalisation Award
59.5 KB
27.01.2020 07:30
Category 1
31.47 KB
25.09.2019 12:10
Claw Back and Rights Offer
30.72 KB
25.09.2019 12:10
Consolidation or subdivision
24.67 KB
27.01.2020 07:30
DLR - Applicable Pricing Supplement
30.75 KB
07.10.2020 12:13
DLR - Offering Circular - Checklist
53.93 KB
27.01.2020 07:30
DLR - Offering Circular Checklist
88.4 KB
07.10.2020 11:05
DLR - Programme Memorandum Checklist
88.34 KB
07.10.2020 11:06
Dual and External Companies
52.5 KB
27.01.2020 07:30
Fairness opinion
27.5 KB
27.01.2020 07:30
Fast Track Listing
33.14 KB
27.01.2020 07:30
Issue of shares for cash General
20.32 KB
27.01.2020 07:30
Issue of shares for cash Specific
32.23 KB
25.09.2019 12:10
JSE - S20 HFI's Checklist
46.42 KB
25.09.2019 12:10
Mining Companies
56 KB
27.01.2020 07:30
Name change
22.44 KB
27.01.2020 07:30
New Listing
34.07 KB
27.01.2020 07:30
New listing of investment entities
26.52 KB
27.01.2020 07:30
Non Renounceable Rights Offer
30.25 KB
25.09.2019 12:10
Odd-lot offer
25.16 KB
27.01.2020 07:30
Offers for sale or subscription
105.5 KB
27.01.2020 07:30
Part I and II documents
73 KB
07.12.2020 19:16
Price stabilisation
52 KB
05.11.2019 10:39
Related party transaction
26.91 KB
27.01.2020 07:30
Repurchase General Authority
21.92 KB
27.01.2020 07:30
Repurchase Specific Authority
25.6 KB
27.01.2020 07:30
S19 - ABS - Checklist
43.26 KB
27.01.2020 07:30
S19 - DRs - Checklist
29.52 KB
27.01.2020 07:30
S19 - ETFs - Checklist
38.54 KB
27.01.2020 07:30
S19 - ETNs - Checklist
38.59 KB
27.01.2020 07:30
S19 - Full Checklist
70.29 KB
27.01.2020 07:30
S19 - Structured Products - Checklist
36.24 KB
27.01.2020 07:30
S19 - Warrants - Checklist
39.1 KB
27.01.2020 07:30
Schedule 10 MOI Listco
25.33 KB
27.01.2020 07:30
Scrip Dividend
62.5 KB
07.12.2020 19:21
Section 13 - Property Entities - REIT
65.5 KB
07.12.2020 19:18