Corporate Law and Governance
What a relief
On 13 August 2019, President Cyril Ramaphosa signed the much-anticipated National Credit Amendment Bill into law (the Amendment Act). The Amendment Act seeks to give greater effect to the overarching objective of the National Credit Act, 2005 (National Credit Act), namely for the promotion of a fair and accessible credit market in South Africa.
Appropriate Dispute Resolution Clauses are vital in Commercial Agreements
Parties that conclude any sort of commercial agreement must consider the mechanism by which any dispute arising under the agreement will be resolved.
FCA Business Plan 2019/20: looking ahead to post-Brexit future of regulation
Unsurprisingly, Brexit remains the immediate priority for the FCA in its recently published Business Plan 2019/20.
Fintech
The rise of crypto arbitrage
Arbitrage trading is by no means a new
strategy in the financial markets. Any asset
that can be bought and sold on two different
markets at slightly different prices, creates an
opportunity for earning a premium from the
buy low / sell high strategy.
International
The World Federation of Exchanges issues industry guidance on non-default losses
The World Federation of Exchanges (“WFE”), the global industry group for exchanges and CCPs, is today setting out how CCPs ensure that certain non-credit losses that might rarely occur in relation to central clearing are allocated in a transparent, predictable and equitable manner.
Regulation and Ethics
FSCA publishes final amendments under the FAIS Act
On 26 June 2020, the Financial Sector Conduct Authority (FSCA) published final amendments to the General and Short-term deposit Codes of Conduct as well as Fit and Proper requirements under the FAIS Act.
Tax
Deferred tax treatment of assets with multiple future tax consequences
Deferred tax reflects the future tax consequences that will arise when an entity’s assets and liabilities realise. The IFRIC recently considered how an entity should determine the deferred tax implications of an asset if the recovery of the economic benefits associated with it will have multiple distinct tax consequences.
