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In a previous Alert we dealt with the question of whether credit providers’ right to apply set-off is regulated by the common-law only or whether credit providers are subject to the National Credit Act’s more onerous requirements regarding set-off.
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.
In 1942, the American writer Isaac Asimov set out “The Three Laws of Robotics” in his science-fiction story known as “I, Robot”.
Preference share funding structures contemplate the subscription by a funder for preference shares in the share capital of a company with a pre-agreed dividend rate (often linked to a prevailing interest rate) and capital redemption profile.
An updated version of the Draft Margin Requirements for Non-Centrally Cleared Over-the-Counter Derivative Transactions (Margin Requirements) was recently published as a Joint Standard by the Financial Sector Conduct Authority (FSCA) and the Prudential Authority (PA).
On 18 April 2019, the Financial Surveillance Department of the South African Reserve Bank (FinSurv) released three circulars, including Exchange Control Circular 9/2019 (Circular), regarding changes to South Africa’s exchange control (Excon) rules.