Financial Services Board (FSB) and Johannesburg Stock Exchange (JSE) are world class regulators
The recently published Global Competitiveness Survey of the World Economic Forum (WEF) holds many reasons for South Africa to be immensely proud. Not only did the survey show that South Africa remains the most competitive economy in sub-Saharan Africa, the country has also been ranked first out of the 144 countries surveyed for securities market regulation.
At a time when questions are being raised about the role played by many “first world” regulators in the financial scandals that have dominated world headlines in recent years, it is heartening to know that South Africa has been held up as a shining example in this area for the third consecutive year. In simple terms, this means that the country’s securities market regulators, the Johannesburg Stock Exchange and its financial services regulator, the Financial Services Board (FSB) truly are world leaders in their respective regulatory spheres.
South Africa was also ranked first in relation to auditing and reporting standards and the effectiveness of corporate boards. The country was ranked second in the protection of minority shareholders’ interests and soundness of banks categories, and also got the number three ranking in terms of the ability to raise finance through the equity market.
-ENDS-
Mediad Release: FSB 14 September 2012
