The South African Reserve Bank and South African Foreign Exchange Committee launch the FX Global Code Public Register

This central repository identifies institutions that have committed to the Code's principles, increasing transparency across South Africa and SADC. While voluntary, it raises the bar for FX market conduct and creates a public benchmark for counterparties and regulators. For compliance teams, the priority is to confirm whether your firm appears on the register and whether its Statement of Commitment is current.

Absence could invite questions from clients, auditors or supervisors, particularly for banks, brokers and asset managers active in FX. Firms should map existing FX policies, trading practices and disclosures against the Code, then close any gaps. Training for front-office staff and regular attestations are prudent.

Institutions not yet committed should weigh the commercial benefits of adoption, especially if they serve cross-border or institutional clients. The register also simplifies due diligence: counterparties can quickly verify Code alignment, potentially reducing onboarding friction. Actionable steps: verify registration status; review FX policies against the Code; update client-facing disclosures; train relevant staff; and monitor SA-FXC updates.

Overall, a moderate-impact, low-urgency development that signals tighter market conduct expectations in the region. RegCanary will track adoption trends.