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Published by Greg Kawere

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Published by: Greg Kawere on Oct 20, 2010
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Regulation and Ethicsof the S.A. Financial Markets
by Karin van Wyk CEOSAIFM 
© SAIFM February 2008
1. Regulation and the Role of Various Regulators
Learning Outcome Statements 41.1 Introduction 41.2 Regulation in General 51.3 Regulation in South Africa 111.4 Financial Services Board (FSB) 111.5 Financial Intelligence Centre 171.6 Council for Overseeing Ombudsman Schemes 181.7 Self-test Questions 191.8 Activities 221.9 Measure your progress 22
2. The Securities Services Act, 2004 (SSA)
23Learning Outcome Statements 232.1 Objects of the Act 232.2 Role players and other Important Definitions 242.3 The Exchanges 252.4 Authorised Users 302.5 Auditors and Accounting records 372.6 Restrictions and Prohibitions
402.7 Advertising and Publications 412.8 Market Abuse 412.9 Custody and Administration of Securities
442.10 Self-test Questions 482.11 Activities 522.12 Measure your progress 52
3. Enforcement
53Learning Outcome Statements 533.1 Inspections, Investigations and Enforcement Actions 533.2 Inspections ito the Inspection of Financial Institutions Act 533.3 Enforcement Actions after the Inspection 553.4 Power of the Registrar to Impose penalties 553.5 Disqualifications 553.6 Enforcement Committee 563.7 Self-test Questions 563.8 Measure your progress 57
4. Financial Advisers and Other Intermediaries
58Learning Outcome Statements 584.1 Role players, products and activities 584.2 Applying for a license as a financial services provider 614.3 Codes of Conduct: Requirements with regard to the operation of a FSPsbusiness634.4 The Ombud 834.5 Self-test Questions 834.6 Measure your progress 85
5. Conflicts of Interest
86Learning Outcome Statements 865.1 Soft Commissions 865.2 Financial Institutions (Protection of Funds Act) No 28 of 2001 885.3 Self-test Questions 88
5.4 Activities 895.5 Measure your progress 89
6. Ethics
90Learning Outcome Statements
906.1 Main Principles 906.2 Integrity Principles 906.3 Skill, Care and Diligence 926.4 Full Accurate Information 936.5 Promotional Material 956.6 Activities 956.7 Self-test Questions 966.7 Measure your Progress 96
7. Bibliography
Learner Guidance: Assessment methodology:
Self-test questions (formative assessments) are designed to help you master the outcomesspecified in the beginning of each chapter. The summative assessment (exam) will take theform of a multiple-choice set of questions that have been designed to assess whether youhave mastered the required outcomes. The format of the self-test questions thereforediffers from the format of multiple-choice questions and this should be kept in mind whenreading the material.Each multiple-choice question contains a key (correct answer or statement/s) and certaindistracters (incorrect answers or statements). The drafter of multiple-choice questionsstrives to make the distracters appear plausible i.e. they look correct to a person who didnot read the material properly, but they are actually incorrect. The average learner shouldgo through the material at least 3 times and do the self-test questions before attempting thesummative assessment (exam).Activities are meant to enrich the learning process and to make it more meaningful. They areentirely voluntary and can be skipped if a learner so wishes. Activities are recommendedhowever as they familiarise you with certain websites that serve as sources of information,so that you learn how to research information on your own once you are a securities marketpractitioner.

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