Information

This barrier is unrelated to the end of the transition period, following the United Kingdom's departure from the EU.

Public ID: PID-G53D39

Restriction on overseas financial and investment products affecting UK exporters and investors

in South Africa

Trade barrier summary

This affects UK companies and investors doing business with South Africa. The South African Financial Sector Conduct Authority (FSCA) is unwilling to allow derivative-based products that are developed and registered in the UK market to enter the South African market. The Financial Sector Regulation Act No. 9 of 2017 regulations aim to enhance and support the efficiency, integrity and stability of South Africa's financial markets, protect consumers against unfair practices by financial institutions, and provide financial education for consumers. However, the current regulations prevent overseas businesses from supplying financial or investment products, including financial derivatives, in South Africa. Instead, the overseas business have to invest in developing a new investment product that is specific to the South African market.


Sectors affected

  • Financial and professional services

Resolved

No


Date reported

25 September 2020


Last updated

18 December 2020


Public ID

PID-G53D39


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