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President Zuma  has signed the Twin Peaks Bill in to law.

 

 

It makes provision for a so-called Twin Peaks model of financial regulation. On the one hand, the SA Reserve Bank (SARB) will be responsible for regulating all financial institutions – banks, insurance houses and the asset management sector.

The Presidency said in a statement issued on Monday that the Financial Sector Regulation Act aims to achieve a financial system that works in the interests of financial customers, and supports balanced and sustainable economic growth in South Africa

 

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