South Africa moves toward UK-style ‘twin peaks’ regulators

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South Africa is a step closer to introducing ‘twin peaks' regulators with similarities to those in the UK, according to a consultative document issued jointly on February 1 by the South African Reserve Bank (Sarb), the Financial Services Board and the National Treasury.

Like the UK, the plans propose creating a new prudential regulator that will be overseen by the central bank, and a new financial conduct watchdog to replace the existing Financial Services Board. The Sarb also takes overall resp

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