The International Swaps and Derivatives Association Inc. (ISDA) indicated that South Africa has been in focus over recent months since the margin requirements for non-centrally cleared derivatives transactions were published for comment in June 2015. The aim of the requirements is to outline the future regulation of OTC derivatives in South Africa in line with
South Africa: New Curatorship regime – thanks to ABIL?
The Banks Amendment Act came into operation on Monday, 29 June 2015. The Amendment Act looks slightly different to the draft bills that were circulated towards the end of 2014. Input from the Standing Committee on Finance has now been incorporated.
The Amendment Act provides for the curator of a financially distressed bank to create
The reality of the virtual debit card in South Africa
The virtual debit card is fast becoming a reality for many consumers around the world who do not have access to online shopping sites that require payment by a credit card or who are simply afraid to use their credit card details while shopping online. Payment systems are constantly being developed around the world to
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
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