## South Africa: Financial Sector Assessment Program-Detailed Assessment of Implementation on the IOSCO Objectives and Principles of Securities Regulation

_IMF Staff Country Reports, March 3, 2015_

## Source details

**Canonical URL:** [South Africa: Financial Sector Assessment Program-Detailed Assessment of Implementation on the IOSCO Objectives and Principles of Securities Regulation](https://www.imf.org/en/publications/cr/issues/2016/12/31/south-africa-financial-sector-assessment-program-detailed-assessment-of-implementation-on-42759)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/south-africa-financial-sector-assessment-program-detailed-assessment-of-implementation-on-42759/index.md)
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- [Bundle manifest](/en/publications/cr/issues/2016/12/31/south-africa-financial-sector-assessment-program-detailed-assessment-of-implementation-on-42759/bundle-manifest.json)

## Bibliographic details
- Published: March 3, 2015
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498390866.002

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### Summary findings
- The paper presents the Detailed Assessment of Implementation on the IOSCO (International Organization of Securities Commissions) Objectives and Principles of Securities Regulation in South Africa.
- South Africa’s level of implementation of the IOSCO principles is complete in several areas, but there is room for enhancement.
- The legal framework is robust and provides the authorities with broad supervisory, investigative, and enforcement powers.
- Arrangements exist for on-site and off-site monitoring of regulated entities.
- Powers to cooperate with domestic and foreign counterparts are extensive.
- Accounting and auditing standards are described as high, and the disclosure regime that applies to listed companies is high in practice.

### Legal framework, supervisory and enforcement powers
- Legal framework characterized as robust.
- Authorities possess broad supervisory, investigative, and enforcement powers.

### Monitoring and oversight arrangements
- There are arrangements for on-site monitoring of regulated entities.
- There are arrangements for off-site monitoring of regulated entities.

### Cooperation and cross-border powers
- The authorities have extensive powers to cooperate with domestic counterparts.
- The authorities have extensive powers to cooperate with foreign counterparts.

### Accounting, auditing and disclosure
- Accounting standards are high.
- Auditing standards are high.
- The disclosure regime applying to listed companies is high in practice.

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## Content in this bundle

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/south-africa-financial-sector-assessment-program-detailed-assessment-of-implementation-on-42759_