What is it about?
The global financial crisis of 2007-2008 (GFC) resulted in distinct reforms in the financial services sector. The book traces the developments and sets out the reforms which have been implemented in market based finance as well as investment in South Africa following the GFC
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Why is it important?
Before the GFC, the inclination of policy makers and many financial services regulators was to place faith in market forces and practices and therefore adopt a light touch towards financial services regulation. The GFC exposed the shortcomings in this approach. As a result, jurisdictions around the world including South Africa, have implemented major reforms designed to protect investors and ensure the efficiency and integrity of financial markets
Perspectives
The financial services sector is dynamic. Policy makers and regulators face the challenging task of dealing with rapid developments in the financial services sector, Whether the developments are constructive or otherwise, the regulator's approach to its task should be intrusive and should be backed up by a robust regulatory framework in order to be effective.
C. King Chanetsa
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This page is a summary of: Securities and Capital Markets Regulation in South Africa, July 2019, Brill,
DOI: 10.1163/9789004413054_002.
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