South Africa Private Equity Regulation
South Africa Private Equity Regulation
South Africa Government Moves to Regulate Private Equity
South Africa is taking the lead in international trends and moving to regulate private equity. South Africa announced this week that it will regulate domestic private equity firms. The decision is part of a broader shift toward clamping down on the financial industry.
“Although our institutions have proved to be robust, we must not be complacent. I want to highlight several new initiatives to improve our regulatory system,” said Finance Minister Pravin Gordhan.“We are reviewing our adherence to global regulatory standards in banking, insurance and securities markets. We will be expanding the scope of regulation to include hedge funds, private equity and credit ratings agencies,” he added.
Gordhan also indicated that a dedicated council would be established, unifying regulators and enhancing their co-ordination, performance and accountability.
He said, “The framework for accountability, co-ordination and performance of our financial regulators needs to be strengthened. A formal council of regulators may be instituted to serve this purpose.” Source
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Tags: South Africa, South Africa private equity, private equity south african, regulation, taxes, regulation of domestic private equity firms
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