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, welcomes the decision to end the short selling bans across Europe and commends authorities’ efforts to return to normal operations of fair and orderly markets in the region.
Regulation and Ethics
Financial policymakers and international standard setters today met virtually with private sector executives to discuss international policy responses to COVID-19.
The South African Revenue Service (SARS) has published the process that businesses operating in South Africa should follow to request instalment payment arrangements without incurring penalties due to the COVID-19 pandemic.