South Africa and global insurance, financial institutions, banking and general law know–how
This blog was co-authored by Julian Scholtz, Candidate Attorney.
During October 2022, the Financial Sector Conduct Authority (FSCA) declared crypto assets to be a financial product under the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act). The FSCA provided an update on 11 May 2023 and published the Exemption of Persons Rendering a…
This blog was co-authored with Julian Scholtz, Candidate Attorney.
While the Protection of Personal Information Act, 2013 (POPIA) is widely accepted as the primary legislation dealing with the processing of personal information, it is important for financial service providers (FSPs) to take note of their duties in the Financial Advisory and Intermediary Services…
With the declaration of crypto assets as a financial product, providers of crypto assets are left wondering whether they need to register as a financial service provider under the Financial Advisory and Intermediary Services Act, 2002.
Following an exemption published by the Financial Sector Conduct Authority, a person who provides a financial service in relation…
This article was co-authored by: Kristen de Wet, Candidate Attorney
The deputy governor of the South African Reserve Bank (SARB) has confirmed that the trading of cryptocurrency in South Africa will be regulated within the next 12 to 18 months from 12 July 2022.
The use of cryptocurrency in South Africa is prevalent and recent…
(Click here for part 1)
Joint Standard 1 of 2020 and the Financial Sector Regulation Act, 2017 (FSRA) prescribe wide ranging obligations for significant owners, but certain persons are exempt. Financial Sector Conduct Authority (FSCA) General Notice 3 of 2020 exempts the following persons from the requirements of the Joint Standard probably because these entities…
The Financial Sector Conduct Authority (FSCA) and the Prudential Authority (PA) Joint Standard 1 of 2020 sets out the requirements on fitness, propriety and other matters relating to significant owners of financial institutions and the financial institutions themselves. It is worth reminding ourselves of the requirements.
Prudent business management of financial institutions is dependent on…
The Financial Services Tribunal held, in May 2021, that a manager of a foreign collective investment scheme is not to be made subject to the limitations applied to a manager in terms of the Collective Investment Schemes Act of 2002 (CISCA), where an application is made to the Financial Sector Conduct Authority (FSCA) for permission…
On 15 January 2021 the Supreme Court of Appeal handed down a judgment which pronounced on the jurisdiction of the Health Professions Council of South Africa (HPCSA) as a medical malpractice watchdog and the primary guardian of morals of the health profession. The judgment confirmed that the HPCSA’s jurisdiction is not limited to the conduct…
On 17 June 2020 the Constitutional Court handed down a landmark judgment which pronounced on a child’s own right to take part in due process or hearings concerning the termination of the contract between independent schools and their parents. The judgment concerns the constitutionality of a decision by an independent school to expel two scholars…
Where there are mutually destructive versions of an oral agreement, a court will side with the version which is more probable considering the circumstances. The credibility of witnesses, including whether their evidence is coherent and consistent, will be taken into account.
The applicant in Meintjies v Annandale and another, an owner of an accounting…
