By Lianne Friedman, CEO of EconoServ
An amendment to the JSE listing requirements will require companies to provide the BEE Commission with a copy of their compliance report. The first disclosure period is scheduled for 1 June 2018.
The JSE says that the aim of the amendment is to support current BEE legislation and provide investors with more transparency on listed-companies’ BEE status.
Companies will also be required to make their compliance report available on their website and issue a SENS announcement. Penalties for not providing the report will be at the discretion of the BEE Commission.
The JSE says it will work with companies in assisting with the process and wants to ensure that listed companies do comply with the requirement and make their compliance certificate public.
Related Tag: BEE Advisors