Secondary

Hedge Fund Regulation Published

The National Treasury and Financial Services Board issued a media release on 5 March 2015 to inform the industry of the signed Declaration Notice from the Minister of Finance and the final Determination from the Registrar of Collective Investment Schemes.

As from 1 April, Hedge Funds will fall within the ambit of CISCA in order to strengthen its regulation.

  • Market conduct standards, in line with international practices, will be developed to ensure cost-effectiveness and standards on leverage.
  • Two types of hedge funds will be established. The two will be regulated differently, with the Retail Hedge Funds (RHF) regulated more strictly than the Qualified Investor Hedge Funds (QIHF). Both will provide sufficient investor protection
  • Hedge funds will not qualify as Tax Free Savings Accounts at this stage.

Please click here to download Board Notices 52 to 54 of 2015.

Queries can be addressed to Mr Udesh Naicker at the Financial Services Board, at email address fsb.hedgefundqueries@fsb.co.za or per facsimile to (012) 346 6533.

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