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A recent South African court judgment has raised fundamental questions about when lead generation and referral arrangements in financial services cross the line into regulated intermediary activity. The case examined whether performance-based remuneration structures and marketing activities linked to insurance policy conclusions trigger licensing requirements under FAIS, with significant implications for enforceability.

We have spoken about principled negotiations between start-up entrepreneurs and potential funders of the new venture in an earlier article.

It is not uncommon for businesses to sell goods or services to consumers on credit. However, once a consumer has accepted a credit agreement, they become liable for the payment of that debt

The in duplum rule has been part of South African law for more than 100 years, translated, in duplum means ‘double the amount'. This common law rule provides that interest ...

One of the welcome announcements by the Minister of Finance in his budget speech delivered in February this year, pertained to a potential further relaxation...

Is there any legislation that governs the nature, amount or manner or frequency of payments of royalties or other fees or costs (including interest on late payments) in an international licensing relationship, ...

A mortgage bond is registered when an owner of immovable property uses the property as security to raise funds from a bank or other financial institution.

In the Symons case, the plaintiff invested R5 million into a property syndication with Sharemax Investments (Pty) Ltd (Sharemax) based on the advice of the defendant ...

South Africa has received sovereign credit rating upgrades from both Fitch and S&P Global in 2025-2026, marking the country's first upgrades in nearly 21 years.

On 28 July 2020, the Financial Sector Conduct Authority ("FSCA") published FSCA Communication 44 of 2020 (INS) advising that the FSCA has published, for public comment, ...

With reform of South Africa's Exchange Control Rules, the restrictions on the use of "loop" structures have been lifted so that South African residents are no longer prohibited...

On 23 and 24 March 2020, the Minister of Trade, Industry and Competition (the "Minister") published Regulations under section 78(1) of the Competition Act,...

A restraint of trade can place significant pressure on a broker whose ability to work is already under threat, particularly when combined with an FSCA debarment.

Where does POPIA come from and when does it apply?...

Home-loan funds flow only after the bond is registered. Our bond team synchronises loan conditions, guarantees, and lodgement so money reaches the seller on schedule.

The Banks Act 94 of 1990 (the "Banks Act") provides that only a licensed bank may conduct "the business of a bank" in South Africa.

South Africa is preparing to implement mandatory central clearing for certain over-the-counter derivatives by 2028, marking one of the most significant regulatory changes to its derivatives market in over a decade. The South African Reserve Bank has confirmed that the framework will initially apply to rand-denominated interest rate swaps and forward rate agreements, with additional derivative classes to be introduced gradually. Market participants across the financial services industry will need to assess t

As such, regulators around the world have instructed markets to stop relying on LIBOR.