South African Securitisation and Asset Backed Debt Securities Forum (SASF), a non-profit association, exists to promote the development of securitisation in South Africa through:
- education of the public, investors, originators and others with an
interest or potential interest in the benefits of securitisation
- providing a forum to facilitate interaction between Securitisation
market participants on topical industry issues
- being a central point of contact and industry voice in responding
to proposed regulatory, tax, accounting and other changes likely to
affect the industry.
With these aims in mind, various participants in the industry got together
in October 2005 and formed the SASF. The members comprise the major
banks, investors, originators, law firms, audit firms and trustee companies.
The SASF has been modelled on similar forums in the USA, Europe, Asia
and Australia.
The benefits of the work that will be done by SASF
The launch of the SASF is a positive step for the securitisation
industry in South Africa, mainly because it is the first time that the
industry participants and regulators in the country can interact through
a more official structure.
Other benefits to be derived from the forum include industry standardisation
and links with similar organisations around the world which allow the
sharing of knowledge and experience, including shared experience of
regulators in other jurisdictions.