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The Financial Services Board (FSB) has issued a guideline, effective immediately, setting out the parameters within which Strate may provide certain companies’ share register information to third parties such as data vendors. The guideline also provides for share register information to issuers (listed companies and/or their agents) in terms of the Companies Act, 2008.
One of the unfortunate realities of South Africa is that issues such as fraud and corruption are rampant in certain sectors. While it is seemingly going unchecked in many industries, the financial services industry has managed to keep its integrity intact with the majority of the companies in the industry being reputable financial service providers.
The strongest deterrent against FSP compliance missteps is or should be: