Complaints and Disputes_D

Question 1

What process will the JSE employ if a member against whom an ombud has made an adverse finding is unable to
satisfy its obligations, as provided for in the ombud’s decision, within the prescribed period?

Answer 1

1. The JSE will consider the reasons for the member’s inability to satisfy the ombud’s decision and may declare the
   member in default.
2. The claimant will be permitted to lodge a claim against the JSE Guarantee Fund for the fulfilment of the
   member’s obligations in terms of the ombud’s decision.
3. The JSE will have a subsequent claim against the member for the amount of the member’s obligations to the
   claimant, as provided for in the ombud’s decision, which the JSE Guarantee Fund has satisfied.

Question 2

Who is responsible for the costs of the proceedings and when must payment be made?

Answer 2

The parties to any dispute resolution proceeding are responsible for the costs of the proceedings and may be required
to pay to the JSE, before the proceedings commence.

Question 3

Against whom may an ombud, as part of his award and as he deems appropriate in the circumstances, make an order
on costs for payment of all the costs of the proceeding?

Answer 3

The unsuccessful party.