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Papers by Gerda Van Niekerk

Research paper thumbnail of Strengthening Law Enforcement to Address White-Collar Financial Crime in South Africa's Private Sector

Research paper thumbnail of The Nationalisation of the South African Reserve Bank: a Legal-Historical Perspective of Three Central Banks

Fundamina: a Journal of Legal History, Dec 31, 2022

Research paper thumbnail of Twin Peaks in South Africa: a new role for the central bank

Law and Financial Markets Review, Oct 2, 2017

This contribution explores the newly introduced South African Twin Peaks model and its unique fea... more This contribution explores the newly introduced South African Twin Peaks model and its unique features. The main focus of the article is on the comprehensive financial stability mandate imposed on the South African Reserve Bank as central bank by the Financial Sector Regulation Act 9 of 2017. The legislative framework enabling the execution of the SARB's financial stability mandate is interrogated and the strengths and weaknesses of the model, from the perspective of the promotion and maintenance of financial stability are considered.

Research paper thumbnail of Two takes on Twin Peaks: A comparative appraisal of the models of financial regulations in the Netherlands and South Africa

Research paper thumbnail of The Role of the SARB as Central Bank in the South African Twin Peaks Model

Cambridge University Press eBooks, Jul 15, 2021

Research paper thumbnail of Accountability in the twin peaks model of financial regulation in South Africa

South African Mercantile Law Journal

The Financial Sector Regulation (FSR) Act 9 of 2017 implemented the first stage of the Twin Peaks... more The Financial Sector Regulation (FSR) Act 9 of 2017 implemented the first stage of the Twin Peaks model of financial regulation in South Africa. The Act established the Prudential Authority and the Financial Sector Conduct Authority to make the financial sector safer by using a more robust prudential and market conduct framework. The South African Reserve Bank received an enhanced mandate to promote and maintain financial stability. Since accountability is a core goal in financial regulation, this paper analyses the notion of accountability and specifically the accountability of the regulators in a Twin Peaks model of financial regulation. The legislative framework put in place by the FSR Act goes a long way in adhering to principles of accountability. The financial sector regulators are obliged to consult with various stakeholders such as the Minister of Finance and financial institutions. The regulators are subject to control measures, and Parliament holds them accountable. Nevert...

Research paper thumbnail of The Role of the SARB as Central Bank in the South African Twin Peaks Model

The Cambridge Handbook of Twin Peaks Financial Regulation, 2021

Research paper thumbnail of Twin peaks : the role of the South African central bank promoting and maintaining financial stability

Social Science Research Network, Nov 9, 2017

Die rol van die Suid-Afrikaanse sentrale bank in die bevordering en handhawing van finansiële sta... more Die rol van die Suid-Afrikaanse sentrale bank in die bevordering en handhawing van finansiële stabiliteit Ingevolge die Wet op die Suid-Afrikaanse Reserwebank 90 van 1989 en soos daarna bevestig in die Grondwet, 1996 is die primêre doelwit van die Reserwebank as Suid-Afrika se sentrale bank die beskerming van die waarde van die geldeenheid van die Republiek in die belang van gebalanseerde en volhoubare ekonomiese groei in Suid-Afrika. Alhoewel die Reserwebank ook de facto verantwoordelik was vir finansiële stabiliteit in Suid-Afrika word daar nêrens in voormelde wetgewing uitdruklik gemeld dat die bevordering en handhawing van finansiële stabiliteit ƌ doelwit van die Reserwebank is nie. Die wêreldwye finansiële krisis (WFK) van 2008 het egter ƌ paradigmaskuif ten opsigte van finansiële regulering meegebring wat die bevordering en handhawing van finansiële stabiliteit na die voorgrond geskuif het as regulatoriese doelwit. Alhoewel Suid-Afrika die 2008 WFK met relatiewe welslae trotseer het in vergelyking met onder andere die VSA, het Suid-Afrika as lid van die G20 hom nietemin verbind tot hervorming van sy huidige sektorale benadering tot finansiële regulering. Die gevolg was ƌ besluit om die bestaande regulatoriese model te vervang met ƌ aangepaste weergawe van die Twin Peaks-model wat redelik byval gevind het in verskeie ander G20-lande. Die eerste fase van infasering van Twin Peaks in Suid-Afrika word gefasiliteer deur die Finansiële Sektor Reguleringswet 9 van 2017 wat die argitektuur vir die Suid-Afrikaanse Twin Peaks-model in plek stel. In hierdie nuwe reguleringsbedeling word ƌ uitdruklike en omvattende finansiële stabiliteitsmandaat aan die Reserwebank verleen. Hierdie bydrae ondersoek hierdie omskrewe finansiële stabiliteitsmandaat van die Reserwebank en die bevoegdhede en funksies van die sentrale bank in hierdie verband asook die maatreëls ten opsigte van samewerking met ander reguleerders en staatsorgane ten einde hierdie mandaat effektief uit te voer.

Research paper thumbnail of The importance of a legislative framework for co-operation and collaboration in the Twin Peaks model of financial regulation

South African Law Journal, 2020

The South African Law Journal is a peer-refereed journal which publishes contributions on all fie... more The South African Law Journal is a peer-refereed journal which publishes contributions on all fields of law. It provides a forum for scholars and practitioners, from South Africa and elsewhere, to reflect on issues that are internationally significant and locally relevant. The SALJ aims to be essential reading for those inside and outside South Africa who wish to keep abreast of the development of the South African legal order and its relationship to legal issues internationally. The SALJ is published four times a year.

Research paper thumbnail of Twin Peaks: The Role of the South African Central Bank in Promoting and Maintaining Financial Stability

Journal of Contemporary Roman-Dutch Law, 2017

In terms of section 3 of the Reserve Bank Act the primary objective of the South African Reserve ... more In terms of section 3 of the Reserve Bank Act the primary objective of the South African Reserve Bank (SARB) is the protection of the value of the currency of the Republic in the interest of balanced and sustainable economic growth in the Republic. Subsequently, the status of the SARB as central bank of South Africa was given recognition in section 223 of the Constitution when the latter was enacted. The Constitution also provides that the primary objective of the SARB is to protect the value of the currency in the interest of balanced and sustainable economic growth in the Republic. The Constitution further specifies that the powers and functions of the SARB are those customarily exercised and performed by central banks, which powers and functions must be determined by an Act of Parliament and must be exercised or performed subject to the conditions prescribed in terms of that Act. The autonomy of the SARB is entrenched in the Constitution which provides that the SARB must, in the ...

Research paper thumbnail of Twin peaks : the role of the South African central bank promoting and maintaining financial stability

Twin Peaks: Die rol van die Suid-Afrikaanse sentrale bank in die bevordering en handhawing van fi... more Twin Peaks: Die rol van die Suid-Afrikaanse sentrale bank in die bevordering en handhawing van finansiële stabiliteit Ingevolge die Wet op die Suid-Afrikaanse Reserwebank 90 van 1989 en soos daarna bevestig in die Grondwet, 1996 is die primêre doelwit van die Reserwebank as Suid-Afrika se sentrale bank die beskerming van die waarde van die geldeenheid van die Republiek in die belang van gebalanseerde en volhoubare ekonomiese groei in Suid-Afrika. Alhoewel die Reserwebank ook de facto verantwoordelik was vir finansiële stabiliteit in Suid-Afrika word daar nêrens in voormelde wetgewing uitdruklik gemeld dat die bevordering en handhawing van finansiële stabiliteit doelwit van die Reserwebank is nie. Die wêreldwye finansiële krisis (WFK) van 2008 het egter paradigmaskuif ten opsigte van finansiële regulering meegebring wat die bevordering en handhawing van finansiële stabiliteit na die voorgrond geskuif het as regulatoriese doelwit. Alhoewel Suid-Afrika die 2008 WFK met relatiewe welsla...

Research paper thumbnail of Twin Peaks in South Africa: a new role for the central bank

Law and Financial Markets Review, 2017

This contribution explores the newly introduced South African Twin Peaks model and its unique fea... more This contribution explores the newly introduced South African Twin Peaks model and its unique features. The main focus of the article is on the comprehensive financial stability mandate imposed on the South African Reserve Bank as central bank by the Financial Sector Regulation Act 9 of 2017. The legislative framework enabling the execution of the SARB's financial stability mandate is interrogated and the strengths and weaknesses of the model, from the perspective of the promotion and maintenance of financial stability are considered.

Research paper thumbnail of Strengthening Law Enforcement to Address White-Collar Financial Crime in South Africa's Private Sector

Research paper thumbnail of The Nationalisation of the South African Reserve Bank: a Legal-Historical Perspective of Three Central Banks

Fundamina: a Journal of Legal History, Dec 31, 2022

Research paper thumbnail of Twin Peaks in South Africa: a new role for the central bank

Law and Financial Markets Review, Oct 2, 2017

This contribution explores the newly introduced South African Twin Peaks model and its unique fea... more This contribution explores the newly introduced South African Twin Peaks model and its unique features. The main focus of the article is on the comprehensive financial stability mandate imposed on the South African Reserve Bank as central bank by the Financial Sector Regulation Act 9 of 2017. The legislative framework enabling the execution of the SARB's financial stability mandate is interrogated and the strengths and weaknesses of the model, from the perspective of the promotion and maintenance of financial stability are considered.

Research paper thumbnail of Two takes on Twin Peaks: A comparative appraisal of the models of financial regulations in the Netherlands and South Africa

Research paper thumbnail of The Role of the SARB as Central Bank in the South African Twin Peaks Model

Cambridge University Press eBooks, Jul 15, 2021

Research paper thumbnail of Accountability in the twin peaks model of financial regulation in South Africa

South African Mercantile Law Journal

The Financial Sector Regulation (FSR) Act 9 of 2017 implemented the first stage of the Twin Peaks... more The Financial Sector Regulation (FSR) Act 9 of 2017 implemented the first stage of the Twin Peaks model of financial regulation in South Africa. The Act established the Prudential Authority and the Financial Sector Conduct Authority to make the financial sector safer by using a more robust prudential and market conduct framework. The South African Reserve Bank received an enhanced mandate to promote and maintain financial stability. Since accountability is a core goal in financial regulation, this paper analyses the notion of accountability and specifically the accountability of the regulators in a Twin Peaks model of financial regulation. The legislative framework put in place by the FSR Act goes a long way in adhering to principles of accountability. The financial sector regulators are obliged to consult with various stakeholders such as the Minister of Finance and financial institutions. The regulators are subject to control measures, and Parliament holds them accountable. Nevert...

Research paper thumbnail of The Role of the SARB as Central Bank in the South African Twin Peaks Model

The Cambridge Handbook of Twin Peaks Financial Regulation, 2021

Research paper thumbnail of Twin peaks : the role of the South African central bank promoting and maintaining financial stability

Social Science Research Network, Nov 9, 2017

Die rol van die Suid-Afrikaanse sentrale bank in die bevordering en handhawing van finansiële sta... more Die rol van die Suid-Afrikaanse sentrale bank in die bevordering en handhawing van finansiële stabiliteit Ingevolge die Wet op die Suid-Afrikaanse Reserwebank 90 van 1989 en soos daarna bevestig in die Grondwet, 1996 is die primêre doelwit van die Reserwebank as Suid-Afrika se sentrale bank die beskerming van die waarde van die geldeenheid van die Republiek in die belang van gebalanseerde en volhoubare ekonomiese groei in Suid-Afrika. Alhoewel die Reserwebank ook de facto verantwoordelik was vir finansiële stabiliteit in Suid-Afrika word daar nêrens in voormelde wetgewing uitdruklik gemeld dat die bevordering en handhawing van finansiële stabiliteit ƌ doelwit van die Reserwebank is nie. Die wêreldwye finansiële krisis (WFK) van 2008 het egter ƌ paradigmaskuif ten opsigte van finansiële regulering meegebring wat die bevordering en handhawing van finansiële stabiliteit na die voorgrond geskuif het as regulatoriese doelwit. Alhoewel Suid-Afrika die 2008 WFK met relatiewe welslae trotseer het in vergelyking met onder andere die VSA, het Suid-Afrika as lid van die G20 hom nietemin verbind tot hervorming van sy huidige sektorale benadering tot finansiële regulering. Die gevolg was ƌ besluit om die bestaande regulatoriese model te vervang met ƌ aangepaste weergawe van die Twin Peaks-model wat redelik byval gevind het in verskeie ander G20-lande. Die eerste fase van infasering van Twin Peaks in Suid-Afrika word gefasiliteer deur die Finansiële Sektor Reguleringswet 9 van 2017 wat die argitektuur vir die Suid-Afrikaanse Twin Peaks-model in plek stel. In hierdie nuwe reguleringsbedeling word ƌ uitdruklike en omvattende finansiële stabiliteitsmandaat aan die Reserwebank verleen. Hierdie bydrae ondersoek hierdie omskrewe finansiële stabiliteitsmandaat van die Reserwebank en die bevoegdhede en funksies van die sentrale bank in hierdie verband asook die maatreëls ten opsigte van samewerking met ander reguleerders en staatsorgane ten einde hierdie mandaat effektief uit te voer.

Research paper thumbnail of The importance of a legislative framework for co-operation and collaboration in the Twin Peaks model of financial regulation

South African Law Journal, 2020

The South African Law Journal is a peer-refereed journal which publishes contributions on all fie... more The South African Law Journal is a peer-refereed journal which publishes contributions on all fields of law. It provides a forum for scholars and practitioners, from South Africa and elsewhere, to reflect on issues that are internationally significant and locally relevant. The SALJ aims to be essential reading for those inside and outside South Africa who wish to keep abreast of the development of the South African legal order and its relationship to legal issues internationally. The SALJ is published four times a year.

Research paper thumbnail of Twin Peaks: The Role of the South African Central Bank in Promoting and Maintaining Financial Stability

Journal of Contemporary Roman-Dutch Law, 2017

In terms of section 3 of the Reserve Bank Act the primary objective of the South African Reserve ... more In terms of section 3 of the Reserve Bank Act the primary objective of the South African Reserve Bank (SARB) is the protection of the value of the currency of the Republic in the interest of balanced and sustainable economic growth in the Republic. Subsequently, the status of the SARB as central bank of South Africa was given recognition in section 223 of the Constitution when the latter was enacted. The Constitution also provides that the primary objective of the SARB is to protect the value of the currency in the interest of balanced and sustainable economic growth in the Republic. The Constitution further specifies that the powers and functions of the SARB are those customarily exercised and performed by central banks, which powers and functions must be determined by an Act of Parliament and must be exercised or performed subject to the conditions prescribed in terms of that Act. The autonomy of the SARB is entrenched in the Constitution which provides that the SARB must, in the ...

Research paper thumbnail of Twin peaks : the role of the South African central bank promoting and maintaining financial stability

Twin Peaks: Die rol van die Suid-Afrikaanse sentrale bank in die bevordering en handhawing van fi... more Twin Peaks: Die rol van die Suid-Afrikaanse sentrale bank in die bevordering en handhawing van finansiële stabiliteit Ingevolge die Wet op die Suid-Afrikaanse Reserwebank 90 van 1989 en soos daarna bevestig in die Grondwet, 1996 is die primêre doelwit van die Reserwebank as Suid-Afrika se sentrale bank die beskerming van die waarde van die geldeenheid van die Republiek in die belang van gebalanseerde en volhoubare ekonomiese groei in Suid-Afrika. Alhoewel die Reserwebank ook de facto verantwoordelik was vir finansiële stabiliteit in Suid-Afrika word daar nêrens in voormelde wetgewing uitdruklik gemeld dat die bevordering en handhawing van finansiële stabiliteit doelwit van die Reserwebank is nie. Die wêreldwye finansiële krisis (WFK) van 2008 het egter paradigmaskuif ten opsigte van finansiële regulering meegebring wat die bevordering en handhawing van finansiële stabiliteit na die voorgrond geskuif het as regulatoriese doelwit. Alhoewel Suid-Afrika die 2008 WFK met relatiewe welsla...

Research paper thumbnail of Twin Peaks in South Africa: a new role for the central bank

Law and Financial Markets Review, 2017

This contribution explores the newly introduced South African Twin Peaks model and its unique fea... more This contribution explores the newly introduced South African Twin Peaks model and its unique features. The main focus of the article is on the comprehensive financial stability mandate imposed on the South African Reserve Bank as central bank by the Financial Sector Regulation Act 9 of 2017. The legislative framework enabling the execution of the SARB's financial stability mandate is interrogated and the strengths and weaknesses of the model, from the perspective of the promotion and maintenance of financial stability are considered.