The jury is still out on whether or not a company works better under the stewardship of one or two CEOs. The percentage of single CEOs of JSE-listed companies may be a good benchmark. And the same is being said of regulating the financial services industry.
It currently falls under one umbrella, the Financial Services Board, but Parliament is reviewing a bill to create a ‘Market Conduct’ and “Prudential” regulator, which was first introduced in 2013. The proposed structure would put the Reserve Bank as the ‘prudential’ regulator.
Analysts are concerned this is merely complicating the process, and a cost with conservative estimates as R4.8bn a year. And what’s the old adage, if it ain’t broke, don’t fix it. – Stuart Lowman