Banking

A pension fund has no locus standi to review an Adjudicator’s determination in respect of death benefit distribution where its legal rights have not been infringed

By Ntokozo Ngubane on November 11, 2025

The Pretoria High Court held that a pension fund and its administrator lacked standing to seek the Financial Services Tribunal (FST) to reconsider a determination handed down by the Pension Fund’s Adjudicator’s (Adjudicator) , given that they do not fall within the ambit of “persons aggrieved by a decision” under section 230 of the Financial…

Banks finance and don’t sell vehicles and do not have the CPA obligations

By Patrick Bracher (ZA) on November 5, 2025

The bank sued the defendant for cancellation of a credit agreement and return of the motor vehicle sold under that agreement. In October 2025 the High Court dismissed a defence raised by the consumer that the vehicle was defective for the purposes of the Consumer Protection Act. The court held that the bank did not…

FSCA’s 2025 Crypto Information Request: What South African CASPs Need to Know

By Desiree Reddy (ZA) on October 8, 2025

If you offer crypto-related financial services in South Africa, the Financial Sector Conduct Authority (FSCA) has issued a request to which you are required to respond. The FSCA has issued a new information request to better understand the current crypto market, improve oversight, and protect consumers.

What is this request about?

In October…

Enforcement of special notarial bonds

By Izak Lessing, Camille Kafula & Adrienne Hendricks on October 3, 2025

The trust lent and advanced a R20 million loan to the company under a written loan agreement. To secure the loan, a special notarial bond (SNB) was registered over the company’s vehicles, machinery and equipment. The company fell in arrears with its loan repayments and remained in breach of the loan agreement. The trust sought…

Resolutions are not enough: court rejects loan claim against deceased’s estate

By Izak Lessing, Camille Kafula & Adrienne Hendricks on September 18, 2025

The liquidators of a company failed in a claim for a sum of money and interest thereon against the executor of the deceased’s estate arising from an alleged loan by the company to the deceased (who was a former director of the company) because there was no proof that the deceased agreed to be bound…

Misunderstanding no defence: guarantor bound by terms of guarantee

By Izak Lessing, Camille Kafula & Adrienne Hendricks on September 18, 2025

The bank brought a claim against the respondent based on a guarantee signed by him wherein he irrevocably and unconditionally guaranteed to pay any amount owing by the close corporation (the debtor) as if he was the principal debtor.

The respondent disputed the sum claimed by the bank in the certificate of balance alleging that…

Regulatory Milestone: NERSA Approves NTCSA’s Congestion Curtailment Framework as an Ancillary Service

By CJ Grey, Dylan Hampton & Hannah Howell on August 22, 2025

On 29 April 2025, the National Energy Regulator of South Africa (NERSA) granted approval to the National Transmission Company South Africa (NTCSA) to classify congestion curtailment as a constrained generation ancillary service. NERSA indicated that its decision “represents a significant step toward unlocking grid connection capacity and enhancing energy availability in areas with high…

The Constitutional Court confirms that quorate trustee meeting decisions are binding on the trust

By Izak Lessing & Siphosetu Matebese on August 7, 2025

In August 2025, the Constitutional Court clarified a point in trust law that a decision taken at a quorate trust meeting will bind a trust even when a trustee does not attend the meeting despite receipt of reasonable notice. There is no need for a unanimous resolution and joint action by all trustees at meetings…

High Court Dismisses Appeal in Homii Case: Section 45 Defence Rejected

By Steve Chemaly & Ilane Swift on July 25, 2025

Co-authored by Brigitte Eloff, a candidate attorney.

In June 2025, the Pretoria high court dismissed an application to introduce new evidence relating to a claim for alleged non-compliance with section 45 of the Companies Act, 2008.

The judgment underscores the importance of raising all relevant defences and evidence at first instance, clarifies the limited circumstances…

Court erroneously allows the imposition of South African administrative penalties on foreign persons

By Patrick Bracher (ZA) on July 23, 2025

In July 2025 the Gauteng high court set aside a rational November 2022 decision of the Financial Services Tribunal (FST) and declared that an administrative penalty under section 167 of the Financial Sector Regulation Act could be imposed on a foreign person because the administrative penalty had been served on the foreign persons by electronic means…

Financial Institutions Legal Snapshot