South Africa – FSCA Short Selling, LEIs

South Africa – FSCA Short Selling, LEIs

On 4 December 2018, RSA FSCA released discussion papers on short sales/LEIs.

  • FSCA issued the following two discussions papers for comment by 15 January 2019.

Short Sale Reporting

  • In response to the finding in the 2014 IMF Financial Sector Assessment Program that South Africa did not have a reporting framework in place for short sales.
  • FSCA publishes a discussion paper that sets out proposals to address shortcoming.
  • Includes flagging of short sale orders on an exchange trading system and public disclosure of aggregated short sale transactions across authorized exchange users.
  • Two-tier system for the reporting and disclosure of significant short positions held in shares admitted to trading on a regulated market (position reporting).
  • This comprises requirement for private disclosure if net short position has reached a specified first trigger threshold, and public disclosure if it reaches higher position.

Legal Entity Identifiers

  • The aim of this discussion paper is to promote awareness of the global use of LEI’s and seek feedback from the market on the proposals for the implementation of LEIs.


  • Comments are due by 15 January 2019.