Monday, 12 September 2011

Just more awesomeness...

From here.

Johannesburg, 13 September 2010 – The Latest World Economic Forum (WEF) Competiveness report ranks South Africa 1st out of 139 countries in for its regulation of securities exchanges. This year South Africa moves up from 2nd place overtaking Sweden for the top position.

“We are very pleased with this achievement, which acknowledges the JSE’s record in terms of regulation and surveillance. This ranking also sends a very good message about investing in South Africa,” says Russell Loubser, CEO of the Johannesburg Stock Exchange (JSE), South Africa’s only securities exchange “It is a testament to the effective working relationship between the JSE and the Financial Services Board (FSB).”

The JSE is accountable to the FSB for the regulation of its markets, market integrity and investor protection. The two organisations work closely together.

A well-regulated securities exchange is especially important to international investors post the global financial crisis. In the midst of the crisis, unlike many exchanges, the JSE did not ban short selling nor introduce circuit breakers.

Released on 9th September, the 2010-2011 WEF Competiveness Report ranks countries according to 12 pillars or sets of criteria. The study rates a country’s competiveness according to quality of infrastructure and institutions, efficiency, market sophistication as well as capacity for innovation. Regulation of securities exchanges falls under the 8th pillar for financial market development.

South Africa fairs well in terms of financial market development criteria with an overall 9th place ranking. Within this set of criteria, other rankings that demonstrate that efficiency of local financial markets include; financing through the local equity market at 7th, availability of financial services at 7th, soundness of banks at 6th and legal rights of investors at 6th.

To view or download the full report, please visit http://www.weforum.org

4 comments:

Dachshund said...

While we score high on regulation of securities, I don't agree that banning short selling or setting up circuit breaks are bad ideas. They are too many unscrupulous operators out there who don't give diddly squat what they do to make a buck. Take a bastard like Warren Buffett, for example. He writes in the New York Slimes that if America has a debt problem, then raise tax rates for the rich. At the same time he bails out the Bank of America for $5 billion worth of preferred stock, at a fixed dividend rate of 6% on the stock with a clause that the bank pays a 5% premium whenever they want to buy the stock back. They've also granted Buffett warrants to buy another 700 million shares at a deep discount. Don't think he's a good rich guy. There are plenty more manipulators like that around.

Anonymous said...

Awsome to see the Lamont decision...Interesting to see how clearly the racial lines are aligning so soon thereafter and exposing the myth of the rainbow nation...The truth will out, as hard as it is for all "moderates" and bend-over backwards, well intentioned people in ZA, we will all have to face it...

Dachshund said...

Well of course the ANC would be "appalled" by Judge Lamont's ruling. The struggle card is all they have left to play with. The trouble is that today's youth couldn't care less about the struggle or ancient history. They just want jobs and food on the table.
__________________

ANC statement on Judge Collin Lamont judgement
12 September 2011

The African National Congress is appalled at the decision of the Southern High Court to outlaw the ANC song ‘Dubulibunu’ as hate speech as pronounced by Judge Collin Lamont in the hate speech case. We view this judgement as an attempt to rewrite the South African history which is not desirable and unsustainable. This ruling flies against the need to accept our past and to preserve our heritage as an organization and as a people.

The ANC will carefully study the judgement and understand its full implications before releasing a much more comprehensive response. In the meantime we will respect the decision of the court while investigating options of dealing with this judgement. Then we will explore every possibility to defend our history, our heritage and our traditions.

Issued by:
Jackson Mthembu
National Spokesperson
African National Congress
Chief Albert Luthuli House

Enquiries:
Keith Khoza 082 823 9672

Dachshund said...

It's full moon so Bert Oosthuizen is phoning me on my landline and cellphone again. I could have expected it. Every full moon Bert goes off his rocker. Twice on the landline; once on the cellphone. He hangs up. I am now disconnecting the landline and setting the cellphone to silent. He hadn't bothered me for two weeks, so I thought he might have given up, but of course, he never does. My husband's switching off his cellphone as well, and I expect Bert will send him some unsavoury SMS's and e-mails. That Bert Oosthuizen! He's so classy!