Tag archives: Banks Act

Exemption of banks in respect of certain clients extended to 30 June 2025

The exemption of Banks in respect of financially sophisticated and high-wealth corporate clients, referred to as the Merchant Banking Exemption (BN 103 of 2004), was extended by FAIS Notice 35 of 2023 until 30 June 2025. The clients covered under the Exemption include other banks, central banks, insurers (life and non-life insurers), asset managers who … Continue reading

Amendments to Banks Act

With effect from 29 June 2015, the Banks Act has been amended. The amendments to the Banks Act enable the provisions in the Companies Act on arrangements and compromises to apply to banks under curatorship and to expand the basis on which a curator of a bank may dispose of all or part of the … Continue reading