Collaborative engagements are underway among various South African regulators and stakeholders to ensure the successful implementation of these regulatory reforms in the near future. A safe and effective financial system supports the regulators’ objective of ensuring financial stability.
Systemic and prominent market participants and infrastructures (such as the National Payments System, which my colleague Dave Mitchell will provide more detail on later) require appropriate regulation, supervision and oversight. It is thus imperative that relevant regulatory authorities have the oversight powers and resources to carry out this task.