Africa

Topic: Banking

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New comparative guide on state of bank recovery and resolution laws in Africa

Norton Rose Fulbright has launched a comparative guide on the state of recovery and resolution laws for banks in Africa. The new interactive guide provides an overview of the bank recovery and resolution requirements applicable to over 20 jurisdictions across Africa. The online guide allows clients to build their own comparative reports regarding the key … Continue Reading

Asset management in South Africa – Ten things to know

1. Licensing of asset managers South African asset managers must register as financial service providers (FSPs) with the Financial Services Board (FSB) under the Financial Advisory and Intermediary Services Act (FAIS). Any person carrying on asset management business in South Africa, or from abroad directed at South African clients, whether in a discretionary or non-discretionary capacity … Continue Reading

Derivatives trading in Tanzania

Norton Rose Fulbright’s Dar-es-Salaam office assisted the International Swaps and Derivatives Association Inc. (ISDA) with a country update on the laws which relate to the trading of over-the-counter derivatives in Tanzania. A full copy of the Tanzania update prepared by Norton Rose Fulbright can be found via the ISDA website (click here). The update primarily … Continue Reading

What stops mobile money payments in South Africa?

Despite the increase in mobile payment services globally, the terms “mobile money” and/or “mobile payment services” are not specifically regulated in any piece of South African legislation. However, the acceptance of deposits from the general public by a person (natural or juristic) is regulated by the Banks Act Section 11 provides that only a registered … Continue Reading

The regulation of hedge funds in South Africa

In the first formal step toward hedge fund regulation in South Africa, National Treasury has published a s63 declaration under the Collective Investment Schemes Control Act, 2002 (CISCA). Investment funds conducting the business of a hedge fund will, from 1 April 2015, become collective investment schemes (CIS) and will be regulated by CISCA. Hedge funds … Continue Reading
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