1 Investments Board Committee Town Hall Meeting June 2013 Sunette Mulder.

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Presentation transcript:

1 Investments Board Committee Town Hall Meeting June 2013 Sunette Mulder

Inward Listings  2011 – Inward listed equity deemed domestic, bought and sold in ZAR, held in local register  Now the process has started for other instruments to follow, e.g. bonds, ETFs  There have been some issues with preference shares, SARB to deal with these on case to case basis  Issue with Platinum ETF & BN 80 – issuer to deal directly with FSB to clear up this issue 2

SA Financial Centre, incl. Excon  Budget 2013 – Gateway to Africa focus  Post ASISA Conference renewed focus on Exchange Control  Meeting with NT/SARB May 2013 to discuss various deliverables  Set up an ASISA Task Team to draw up a paper for NT/SARB  Ultimate goal to ease doing business for ASISA members and make SA attractive as a Financial Centre 3

Global Investment Performance Standard (GIPS)  ASISA is Country Sponsor for GIPS in SA  GIPS Handbook (3 rd ed) released by CFA Institute end 2012 – updated for GIPS 2010 & all Guidance Statements  Downloadable from for freewww.gipsstandards.org  Order hardcopy from CFA $40  Newly released “Draft Guidance Statement on Application of the GIPS Standards to Pension Funds, Endowments, Foundations, and Other Similar Entities.”  Open for comment to 1 August

Hedge Fund Regulation  Consultation paper released by NT/FSB Aug 2012  ASISA sent in submission November 2012  Expect further consultation June 2013 – raised again with FSB  Hedge Fund tax statement in Budget 2013  ASISA has engaged on this tax statement with NT/SARS/FSB and provided information on the Hedge Fund Industry 5

Responsible Investment, incl. CRISA  First reporting date for CRISA 31 January 2013  CRISA Committee released Practice Note on Disclosure January 2013  Working on Model Mandate for ESG Investment  UNPRI Global Conference hosted in Cape Town 1&2 October 2013 – significant discounts offered to SA firms to attend (  Followed by ICGN Event 3&4 October 2013 ( 6

OTC Derivatives Regulation  Steering Committee to oversee process  Working groups under NT/FSB  Registration & Code of Conduct Working Group  Central Reporting Working Group  Central Clearing Working Group  ASISA representatives on Steering Committee & Working Groups  ASISA has an OTC Working Group to provide input to process 7