Given the identified shortcomings of Jibar, it is our expectation that the reform of Jibar will be prioritised by the MPG and its work streams. The interim reform measure that will ultimately be decided on shall become effective from a future date that will recognise all data collection and transitioning considerations.
Another collaborative effort – this time between National Treasury (NT), the Financial Sector Conduct Authority (FSCA) and the SARB – was establishing the Financial Markets Review Committee (FMRC) to develop recommendations aimed at reinforcing conduct standards in wholesale financial markets.