Topic: Finance

Subscribe to Finance RSS feed

Green Loans and Sustainability Linked Loans – same but different?

Photo of Steve ChemalyPhoto of Olivia RadfordPhoto of Angela PaschalidesBy Steve Chemaly, Olivia Radford and Angela Paschalides on Posted in Banking, Finance
From a reputational and corporate governance perspective, green and sustainable activity both gain favour with shareholders and investors (particularly those who place emphasis on investment with a positive environmental, social and governance (ESG) impact). Green Loans and Sustainability Linked Loans have distinctive characteristics which should influence the type of loan offering borrowers consider. A key … Continue reading

Green Loans: a grassroots overview

Photo of Steve ChemalyPhoto of Angela PaschalidesPhoto of Olivia RadfordBy Steve Chemaly, Angela Paschalides and Olivia Radford on Posted in Banking, Finance
What are Green Loans? Green loans are loan instruments made available exclusively to finance or re-finance, wholly or partly, new or existing eligible Green Projects, according to the Loan Market Association’s Green Loan Principles (the GLPs). There are no specific qualifying criteria for a “Green Project” but indicative categories set out in the GLPs include … Continue reading

Regulation on Crypto Assets

Photo of Desiree Reddy (ZA)By Desiree Reddy (ZA) on Posted in Finance
In November 2020, the FSCA released a draft declaration to include crypto assets as ‘financial products’ under the Financial Advisory and Intermediary Services Act, 2002.  The effect of the draft declaration, once made final, would be that any person providing advice or intermediary services in relation to crypto assets would need to be licensed as … Continue reading

National Treasury again commits to the ‘modernised system’ of exchange control regulation in 2022 Budget Speech

Photo of Dale CridlanBy Dale Cridlan on Posted in Finance
This blog was co-authored by: Kristin January, Candidate Attorney On Wednesday 23 February 2022, the Minister of Finance presented his inaugural Budget Speech.  The National Treasury confirmed its commitment to transformation of exchange control regulations with several new proposals: Individuals are permitted to export dual listed domestic securities to a foreign recognised exchange, subject to … Continue reading

The Role and Powers of the FAIS Ombud

Photo of Donald DinnieBy Donald Dinnie on Posted in Finance
This Supreme Court of Appeal judgment in The Ombud for Financial Services Providers and C S Brokers CC and Others [2021] ZASCA 117 is a reminder that section 20 of FAIS created the office of the Ombud as a mechanism for the speedy resolution of disputes which would otherwise be dealt with in court. A … Continue reading

Crypto Wallets: What You Need To Know

Photo of Nerushka BowanBy Nerushka Bowan on Posted in Finance
This blog was co-authored by: Preshanta Poonan, Associate Designate Bitcoin started the cryptocurrency frenzy in 2009, and since then there have been several new cryptocurrencies launched which are fast growing in interest and adoption. When purchasing cryptocurrency, it is important to understand how the wallets work that store your crypto. You must choose the right … Continue reading

Fitness, propriety and other matters related to significant owners – Part 2

Photo of Shawn Barnett (ZA)Photo of Hishaam KhanBy Shawn Barnett (ZA) and Hishaam Khan on Posted in Finance
(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 … Continue reading

Fitness, propriety and other matters related to significant owners – Part 1

Photo of Shawn Barnett (ZA)Photo of Hishaam KhanBy Shawn Barnett (ZA) and Hishaam Khan on Posted in Finance
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 … Continue reading

FSCA publishes a digital banking research report

Photo of Desiree Reddy (ZA)By Desiree Reddy (ZA) on Posted in Banking, Finance
In recognition of the increase in the adoption of digital channels by financial consumers, in late 2021 the FSCA published a Digital Banking Research Report on the state of digital banking activities in South Africa. The term “digital banking” refers to the digitisation of traditional banking services in order to more efficiently deliver financial services … Continue reading

YouTube channel for the Financial Sector Conduct Authority (FSCA)

Photo of Desiree Reddy (ZA)By Desiree Reddy (ZA) on Posted in Finance
In a welcomed development, the Financial Sector Conduct Authority has established a YouTube channel (https://m.youtube.com/channel/UCh3dQcOQAzdptNTKFQvB7HQ/about). The channel is a useful resource and provides valuable insight  as to the FSCA’s stance on certain issues.  Check out their latest videos: How to establish a FAIS compliance function: https://www.youtube.com/watch?v=QlnMYmwlj1Y How the FSCA complies to PAIA: https://youtu.be/TdUUOEckfB0 Financial soundness requirements … Continue reading

FAIS debarment and what constitutes honesty and integrity

Photo of Donald DinnieBy Donald Dinnie on 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

Financial Institutions Legal SnapshotBy NRF Digital Team on 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

Photo of Desiree Reddy (ZA)Photo of Ntokozo NgubaneBy Desiree Reddy (ZA) and Ntokozo Ngubane on 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

Introduction to Islamic finance – a series

Photo of Raghemah HendricksBy Raghemah Hendricks on 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
LexBlog