Corporate Law and Governance
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.
Parties that conclude any sort of commercial agreement must consider the mechanism by which any dispute arising under the agreement will be resolved.
Unsurprisingly, Brexit remains the immediate priority for the FCA in its recently published Business Plan 2019/20.
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.
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
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.
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.