In 2015, a policy framework on the margin requirements for non-centrally cleared over-the-counter derivatives (OTC Derivatives) transactions was published by the Basel Committee on Banking Supervision and the International...more
On 26 March 2024 the Prudential Authority published, for public comment, the revised proposed directive on loss absorbency requirements for banks, bank controlling companies and branches of foreign institutions under...more
1. Repos in the Islamic market -
In our article titled "Repos in Islamic Finance"1 we concluded that Shari'ah-compliant repurchase transactions ("Repos") could play a useful role as a liquidity management instrument to...more
9/15/2023
/ Capital Markets ,
Collateral ,
Collateralization ,
Financial Institutions ,
Financial Services Industry ,
Global Market ,
Libor ,
Liquidity ,
Liquidity Risk Management Rule ,
Middle East ,
Repurchases ,
UK ,
United Arab Emirates (UAE)
In January 2022, the President assented to the Financial Sector Laws Amendment Act, 2021 (the "FSLAA"), which adds a new Chapter 12A (Resolution of Designated Institutions) (the "Bank Resolution Regime") into the Financial...more
In February 2023, the Financial Action Task Force (“FATF”), the global standard-setter on Anti-Money Laundering policy, issued a report describing the financial crime risks in the art and antiquities market, as well as good...more
On 24 February 2023, the FATF will announce its decision regarding the likely grey listing of South Africa – if this transpires, the consequences for the already embattled South African economy could be severe.
South...more
2/24/2023
/ AML/CFT ,
Cybersecurity ,
Due Diligence ,
FATF ,
Financial Crimes ,
Foreign Direct Investment ,
Foreign Investment ,
Fraud ,
Money Laundering ,
Popular ,
South Africa ,
Terrorism Funding
The Prudential Authority (the "PA") published, for public comment, the Prudential Standard on the transfer of assets and liabilities of designated institutions in resolution (the "Draft Prudential Standard" or the...more
On 28 January 2022, the government of the Republic of South Africa promulgated the Financial Sector Laws Amendment Act, No. 23 of 2021 (the "FSLAA"). However, not all of its provisions have come into force. To date, sections...more
The Financial Sector Conduct Authority (the "FSCA") has approved amendments to the JSE Debt Listing Requirements (the "Requirements") so as to introduce a new issuance platform stemming from the JSE – known as the "Transition...more
6/29/2022
/ Climate Action Plan ,
Climate Change ,
Debt Securities ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Green Initiatives ,
Investors ,
Paris Agreement ,
Sustainability ,
UK