Corporate Law and Governance
With the confluence of factors including globalisation, the rise of the digital economy, the proliferation of new competition law regimes, and the increasing incidences of cross-border activity on the continent, it is unsurprising that there has been conduct over which several competition authorities have wished to exert jurisdiction.
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.
There are currently no fintech product and services-specific laws or regulatory bodies. However, certain fintech products and services may fall within the scope and ambit of general financial services regulatory frameworks and, thus, will be subject to the supervision of regulatory bodies charged with the monitoring of those frameworks.
This alert will form part of a three-part series and will cover key competition law developments at the COMESA Competition Commission and Namibian Competition Commission in the first quarter of 2021.
Regulation and Ethics
IOSCO reviews implementation of Recommendations and Standards on BCPs for Trading Venues and Market…
The Board of the International Organization of Securities Commissions today published a Thematic Review (‘Review’) on the extent to which participating IOSCO member jurisdictions have implemented regulatory measures consistent with the two Recommendations and the two Standards set out in the 2015 IOSCO reports on Business Continuity Plans (BCPs) for Trading Venues and Market Intermediaries.
The National Treasury published the Budget Review 2021 on 24 February 2021. This article on considers some of the proposals for tax amendments that the National Treasury intends to make as part of the 2021 legislative cycle.