JSE
JSE
JSE - Sponsor/Designated Advisor Approved Executive criteria
The JSE Limited ("JSE") initiated a process last year with
the intention of changing the Sponsor and Designated Adviser
(`DA") approval process, including the eligibility criteria.
The rationale for the proposed changes includes the
following:
- simplifying the approval process;
- introducing more objectivity into the rules;
- continuing education for sponsors and DA`s;
- the need to remove the onerous process that
sponsors must go through every year in proving
which transactions they were involved in; and
- providing more certainty to sponsor firms
especially during periods where there is limited
corporate activity resulting in some of their
executives no longer remaining approved.
The main proposals can be summarized as follows:
- All existing approved executives of sponsor and DA
firms will remain as such provided they attend
update courses whenever there are changes to the
Listings Requirements.
- All new applicants must pass an examination and
gain experience under the supervision of an
approved executive before being registered.
- The examination will focus on what a sponsors and
DA`s require to meet their responsibilities and
will therefore cover topics such as the Listings
Requirements, relevant aspects of the Securities
Services Act and Companies Act, the King Code and
ethics.
The proposed requirements are available on the JSE website
www. jse.co.za and all interested parties are invited to
submit their comments in writing before 20 June 2008 to
Annalie de Bruyn.
annalie@jse.co.za
FAX : 011 520 8596
20 May 2008
Date: 20/05/2008 15:00:01 Produced by the JSE SENS Department.
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