(7)The legally binding requirements for CCPs and clearing houses authorised in South Africa currently consist of the FMA, as amended by the FSRA, and of the Financial Markets Act Regulations 2018. This legal framework is supplemented by the set of Conduct Standards issued by the Financial Sector Conduct Authority (‘FSCA’). The amended FMA and the Financial Markets Act Regulations 2018 set out additional duties and requirements with which clearing houses and CCPs authorised in South Africa must comply. In addition, under the amended FMA, the Prudential Authority (‘PA’), and the FSCA take over the role of ‘The Registrar of Services’ and jointly grant the authorisation to operate in South Africa as a licensed independent clearing house or as a licensed CCP, provided that the applicant complies with those requirements and contributes to the achievement of the objectives specified in the FMA, including systemic risk mitigation.