The Johannesburg Stock Exchange (JSE) says that the Financial Sector Conduct Authority (FSCA) has approved amendments to the JSE listings requirements, “which will reduce red tape and create an enabling environment for companies listed on the bourse”.
The amendments, which will come into effect on 1 June this year, are a culmination of a comprehensive consultation process with market participants and the FSCA aimed at achieving a level of effective and appropriate regulation for companies listed on the JSE’s Main Board and Alternative Exchange , it said.
“As we have done in the past, we will continue to focus on cutting red tape measures through engagement with our stakeholders to enhance the regulatory experience of our market as we ensure the protection of investors,” said Andre Visser, JSE’s director for Issuer Regulation. The measures, to name a few, apply to ordinary course of business transactions and intragroup repurchases where the preparation of circulars and shareholders’ approval will no longer be required under certain circumstances.
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