News / Legal Brief
Jun 1,2022
On 5 March 2021, the Issuer Regulation Division of the JSE issued a Market Notice on a JSE Consultation Paper titled “Cutting Red Tape Aimed at Effective and Appropriate Regulation: Request for Comments“. There was a vast interest received from stakeholders and the JSE allowed for extensions on input thereon on request from the public.
On 11 February 2022, the proposed amendments to the JSE Listings Requirements were issued in the Government Gazette (No. 45903) by the Financial Sector Conduct Authority (FSCA) for public comment and for all interested parties to lodge any objections.
On 29 April 2022, the FSCA gave notice under the Financial Markets Act of 2012 that the amendments to the JSE Listings Requirements have been approved and came into operation on 1 June 2022.
In respect of Section 9 of the JSE Listings Requirements, which was the focus of our articles in part 1 and part 2, the amendments (in summary) that have been approved under Section 9 include –
The JSE is aware of the need for it to be cognisant of an issuer’s activities in the ordinary course of business while at the same time ensuring a fair and transparent market. It is their belief that these amendments will be welcomed by issuers seeking operational flexibility when conducting business in the ordinary course, and a step in making the Listings Requirements more fit for business purposes.
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