In a historic move, South Africa’s financial sector has unveiled the South African Market Surveillance Code of Conduct, a transformative framework to ensure ethical, transparent, and trustworthy markets. Spearheaded by Investec and handed over to the South African Institute of Stockbrokers (SAIS) at a Cape Town conference, this initiative unites major players like the JSE, A2X, SAIFM, and the Public Investment Corporation to combat market abuse and foster economic growth with far-reaching social benefits.
Developed through three years of collaboration with regulators and industry leaders, the Code sets clear standards for ethical conduct, aiming to deter manipulation and illegal trading. By strengthening market integrity, it seeks to attract global investment, create jobs, and address social challenges like unemployment and inequality in South Africa.
Themba Maseko, Head of Global Market and Investment Banking Compliance at Investec, highlighted the broader impact: “Trusted markets drive investment, which creates jobs and tackles social issues. This Code is our commitment to a financial system that uplifts South Africa.”
SAIS, now the custodian of the Code, will champion its principles to ensure a fair and inclusive financial ecosystem. “We’re dedicated to building confidence in our markets through transparency and integrity,” said SAIS President Erica Bruce. “This is about creating a stable system that serves all South Africans.”
The conference also emphasized collaboration between buy- and sell-side stakeholders to address emerging risks and responsibly integrate innovations like AI. Nedbank will lead future updates to keep the Code aligned with global standards and evolving market needs.
Cumesh Moodliar, Investec CEO, underscored the initiative’s significance: “By working together, we can exchange valuable insights, strengthen our collective frameworks, and foster a resilient, well-regulated environment that upholds the integrity of South Africa’s financial markets. We are proud to be part of this important initiative, which reflects our core values as well as our commitment to ethical and transparent market practices.”
This landmark Code not only strengthens South Africa’s financial markets but also sets a powerful example of how industry collaboration can drive social progress, fostering a future of opportunity and resilience for all.
