Topic: Finance

FAIS debarment and what constitutes honesty and integrity

By Donald Dinnie on November 11, 2021 Posted in Finance

In order for a representative to be debarred, there must be non-compliance by the representative or the key individual of the financial services provider with, amongst other things, the “fit and proper” requirements of the FAIS Act. The fit and proper requirements are measured against a number of categories including those of personal character qualities … Continue reading

SCA reverses liquidation of JP Markets

By NRF Digital Team on October 26, 2021 Posted in Finance

This blog was co-authored by Shawn Barnett, Director and Hishaam Khan, Candidate Attorney On 20 October 2021 the Supreme Court of Appeal upheld the appeal of JP Markets (Pty) Limited against an order of the High Court which placed it in liquidation. The SCA found that it was not just and equitable to place JP … Continue reading

Regulation of crypto assets at the door: A further step following the declaration of crypto assets

By Desiree Reddy (ZA) and Ntokozo Ngubane on October 22, 2021 Posted in Finance

In a draft declaration issued on 20 November 2020, the FSCA proposed to include crypto assets as a category of financial product under the Financial Advisory and Intermediary Services Act, 2002 (“FAIS”). We wrote about this previously, here. Speaking to the draft declaration in a September 2021 media briefing, Ms Olaotse Matshane, Chairperson of the … Continue reading

Regulation of private equity managers: What you need to know

By Shawn Barnett (ZA) on August 3, 2021 Posted in Finance

This blog has been co-authored by: Hishaam Khan, candidate attorney While private equity funds are not regulated in South Africa, managers of such private equity funds are subject to the Financial Advisory and Intermediary Services Act (FAIS Act) and to the Financial Sector Conduct Authority (FSCA) in terms of the Financial Sector Regulation Act. Fund … Continue reading

FAIS Ombud must determine jurisdiction before determining complaints

By Donald Dinnie on June 18, 2021 Posted in Finance

In April 2021, the Supreme Court of Appeal dismissed the review of determinations made by the FAIS Ombud established in terms of the Financial Advisory and Intermediary Services Act of 2002 (FAIS Act). The SCA was called upon to decide whether the Ombud had committed a reviewable error in determining complaints lodged by the respondents. … Continue reading

Introduction to Islamic finance – a series

By Raghemah Hendricks on June 10, 2021 Posted in Finance

Attempting to define Islamic financing is not always easy. Put simply, Islamic finance is a way of doing financial transactions and banking while respecting Islamic Law (Shari’ah). The underpinning principles of Shari’ah are based on social vision of public interest, equity, justice and fairness. Shari’ah gives guidance as to what is, and what is not … Continue reading