STEPHEN CRANSTON: Policing the banks
In the hundred years that the Reserve Bank has regulated SA banks, there has never been market conduct regulation
16 July 2020 - 05:00
Insurance companies and investment houses were subject to a barrage of controls from the old Financial Services Board (FSB). It could take months, or sometimes years, for example, to register a fund based overseas for sale in SA.
Yet in the hundred years that the Reserve Bank has regulated SA banks, there has never been market conduct regulation. The Bank considered its mandate to be just one thing: to ensure that banks had enough capital to stay in business when troubled times hit...
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