News
Statement South Africa Market Surveillance Code of Conduct
Publication Date: 09/07/2025
Combatting market abuse requires a collaborative effort between the market regulators and the market participants. Authorised users of exchanges and other financial market intermediaries act as the gatekeepers to South Africa’s financial markets, ensuring that the securities services they provide meet the highest standards of integrity and that potential market abuse is either stopped or detected at the gate.
The South African Market Surveillance Code of Conduct is an excellent example of how key stakeholders can work together to recognise and address threats to the safety and attractiveness of the financial markets in South Africa. Confidence in the integrity of our financial markets is enhanced when the investing public can see that all the important role players have a common objective and implement consistent high standards of conduct and compliance to prevent and detect harmful practices that negatively impact the public perception of our markets if they go unchecked.
The Code represents the best practices in market surveillance, covering the important issues that market surveillance professionals in South Africa need to consider and address as they develop and apply effective surveillance arrangements within their organisations to combat market abuse, abuse in line with South Africa’s regulatory framework and international best practice.
The Banking Association South Africa (BASA) commends the market participants involved in developing a Code to simplify and assist market surveillance teams in understanding their regulatory obligations in promoting the strength of our markets for the benefit of issuers, investors, and the South African economy.
We trust that all market participants will embrace the Code and what it seeks to achieve, and we hope that it will be an important guide for those who value the role that effective market surveillance plays in promoting investor confidence, for many years to come.