The JSE is crafting tighter disclosure rules for companies with listed debt instruments, combined with a greater focus on corporate governance to increase transparency. State-owned companies, which are some of the biggest debt issuers, are overhauling their corporate governance after some were caught up in a recent influence-peddling scandal that rocked business and politics in Africa’s biggest economy. "Commentators are often critical why exchanges don’t catch or stop a fraud etc ... what they [regulators] do is they require disclosures so people are informed before they make a decision to invest," said JSE CE Nicky Newton-King. "That’s why we are looking at disclosures for nonlisted companies with debt securities as a means for investors, the media and interested shareholders to ask difficult questions." Andre Visser, head of regulation at the JSE, said the new regulations, which were expected to be finalised by the end of 2018 would have a strong focus on corporate governance. "Y...

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