Treasury touts Twin Peaks bill amid banking scandal

Cape Town - South Africa’s financial sector regulatory reform process is well under way, maintained National Treasury.

This followed calls for urgent change in the financial services sector in the wake of a rand rigging scandal and market allocation by 17 banks.

Banks implicated include local players Absa, Investec and Standard Bank as well as big international players such as HSBC, Standard Chartered and Nomura International.