1. Presentation to the National Assembly Standing Committee on Finance
Financial Markets Bill
29 May 2012

2. Introduction
Financial sector regulatory reform taking place across the globe
Financial Markets Bill updating G20 commitments
Twin Peaks to provide regulatory architecture for RSA
Financial Centre for Africa

3. SRO Model Managing conflicts of interest Limited liability provisions
Commercial interests
Global trends

4. SRO Model Strengthen the Bill:
Robust management of conflicts of interest provisions
Formal mechanism for market participants to raise concerns and complaints with the Regulator (Registrar)
External review of conflict management processes
Clear separation of regulatory and commercial activities

5. Regulation of OTC Derivatives
Local registration requirements
International financial market infrastructures
Cost vs. benefit analysis
A measured approach to implementation

6. Financial Markets Bill
Questions?