Sarb gains greater regulatory oversight
President Zuma signs ‘twin peaks model’ into law
The South African Reserve Bank (Sarb) announced it will gain greater regulatory powers following the signing of a new law by President Jacob Zuma.
The central bank describes the act as “the most fundamental reform of the South African financial sector regulatory architecture in more than 30 years”. “The reform heralds a new era of regulation by objective,” the central bank says.
On August 21, the Financial Sector Regulation Act was passed, paving the way for a new ‘twin peaks’ regulatory
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