Investor comment sought
JSE seeks comment as ‘scandals and innuendo’ prompt review of listing rules
In a new consultation paper the JSE suggests lifting racial and gender diversity on boards and doubling the notice period before new stocks start trading
Proposed changes to the JSE’s listings rules could provide some protection to shareholders in scandal-dogged companies, and would prevent questionable companies from securing approval for listings. The JSE has called for comments on proposals to strengthen regulation of listed companies, after a year in which it said financial markets were "shaken by a range of corporate scandals, rumours and innuendo". The proposals include tougher initial listing requirements, increased qualifications for audit committee members and more effective disclosure of the interests of directors and senior management. JSE CEO Nicky Newton-King described the proposals as the most substantial changes to the philosophical underpinning of the JSE’s listing requirements since 1994. They follow unprecedented interrogation of the JSE leadership by parliamentarians tasked with identifying the cause of the near collapse of Steinhoff, which lost over 95% of its share value after accounting irregularities were discl...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.