Corporate Law and Governance
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.
As from 30 April 2019, following an amendment to the Fifth Schedule of the Companies Act, 2001, a notice convening a shareholders’ meeting must now be sent no less than 21 days prior to the meeting, as opposed to no less than 14 days as previously stipulated.
Recently, we have been approached by several people who wanted to know how and whether South African financial services legislation applies to persons who wish to provide advice to third parties who are interesting in investing in cryptocurrencies.
On August 21, 2019, in a 3-2 vote, the US Securities and Exchange Commission (SEC) voted in favor of publishing guidance (guidance) regarding the proxy voting responsibilities of investment advisers (IAs).
Regulation and Ethics
A bank is required to manage its affairs to maintain a prescribed minimum sum of share capital and unimpaired reserve funds (comprising the bank’s common equity tier 1 capital, additional tier 1 capital and tier 2 capital, and its common equity tier 1 unimpaired reserve funds, additional tier 1 unimpaired reserve funds and tier 2 unimpaired reserve funds).