AS part of its ongoing efforts to create an enabling listing environment and attract both local and international listings, the Johannesburg Stock Exchange will be reviewing all its listing requirements with the objective of further simplifying its requirements.
The Simplification Project aims to simplify the Listings Requirements using plain language to record concise regulatory objectives, allowing better understanding and application of the requirements by listed companies, sponsors, investors.
An additional benefit of the simplification will be the significant reduction in the volume of the Listings Requirements. During the process, the JSE will also assess the regulatory relevance of each provision and ‘cut red tape’ where possible to ensure that the Listings Requirements are fit for purpose aimed at an effective and appropriate level of regulation.
To this end, any amendments beyond simplification will be clearly identified and the rationale explained.
“As we continue to create this enabling listing environment, a core component of the Simplification Project is to maintain the level of regulation and transparency in disclosure that the South African financial markets have grown accustomed to,” says Andre Visser, Director of Issuer Regulation at the JSE.
The JSE envisages the process to be completed during a period of between 12-18 months, through a staggered and open consultation process.
The JSE has released its first four simplified sections.
Details of the consultation process and simplified sections can be viewed here: https://www.jse.co.za/regulation/companies-issuer-regulation
Interested parties are invited to comment on the Simplification Project via e-mail to simplification@jse.co.za
Meanwhile, in 2021 JSE lost 25 listings and its CEO Dr Leila Fourie, was quoted as having said ‘working overtime on damage control’.
She said they were ‘working on cutting red tape and market SA to help listed companies narrow discounts in their share price’, report SYDNEY MORWENG- News Ed.
