On 1 February 2013 National Treasury published a policy document dealing with the proposals for implementing the Twin Peaks model of financial regulation in South Africa.
The Twin Peaks model of financial regulation was introduced by the Minister of Finance in the 2011 Budget. It forms part of the proposed financial services sector reform which aims to create a stable financial services sector that is accessible to all.
National Treasury’s document, “Implementing a Twin Peaks model of financial regulation in South Africa” outlines the proposals made by the South African Reserve Bank (SARB), the Financial Services Board (FSB) and National Treasury for implementing the Twin Peaks model, and is open for public comment until 8 March 2013.
If you wish to discuss this document in more detail, please contact your usual PwC contact or those listed at the end of the document.