This blog was co-authored by Candidate Attorney, Felix Le Roux.
In a previous blog, we pointed out that the ambit and limitations of PAJA review proceedings are frequently misconstrued, and that PAJA reviews are limited to the review grounds available and raised by the applicant in terms of PAJA. In a September 2023 judgment
There have been calls for the JSE to amend its Listings Requirements to allow listed companies to issue shares more quickly in times of crisis ‘without interference from shareholders’.
The JSE’s regulatory framework already provides listed companies with various capital raising methods, including some expedited methods. Having to obtain shareholder approval is an important
The JSE has amended its Listings Requirements in the past few years by introducing alternative methods of raising capital and measures aimed at expediting traditional methods. The JSE is aware that, in times of crisis, listed companies may need to raise capital at short notice. Delays in the raising of capital, particularly those caused by
The Financial Services Board amendments to the JSE Listings Requirements (board notice 52 of 2017) which are now in effect, are primarily focused on two aspects:
The Financial Services Board, acting in terms of the Financial Markets Act 2012, has published proposed amendments to the JSE Derivatives Rules and Directives.
The proposed amendments deal with:
In the United States High Frequency Trading (HFT) is expected to account for about 48,5% of exchange trade volume in 2014. This percentage has dropped from HFT’s peak of 61% in 2009. In the UK, estimates are that HFT represents approximately 36% of UK stock market transactions.
This is a globally significant volume of trades.
The amended JSE debt listings requirements come into operation on 22 December 2014. They aim to bring the JSE debt listings requirements in line with the Financial Markets Act, 2012 that came into force in 2013.
The authority of the JSE, including its general powers over listing debt securities such as bonds and commercial paper,