articles

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THE SILVER LINING FOR EMERGING MARKETS - BY LERATO MORWE AND MKHULULI DUNCAN STUBBS
Wednesday, October 19, 2011
In finance, as with much else, the distinction between perception and reality is one without difference. As the developed financial markets attempt tentatively to make the transition from fragile to sound, emerging markets seem to have taken the driving seat. Our perception is that they have done so with aplomb. When markets contract, investors keep their money close to home. This stands to reason, since when investing gets risky, it makes sense to bet on a sure thing. Traditionally, domestic government bonds have been the dominant safe haven for investment. And why not?

PLC FINANCE HANDBOOK 2011 - BY ULRIKE NAUMANN
Tuesday, March 22, 2011
Chapters from the PLC Finance Handbook 2011

UNCERTIFICATED SECURITIES AS COLLATERAL IN SOUTH AFRICAN SECURITIES LENDING TRANSACTIONS - BY ANTHONY COLEGRAVE
Wednesday, September 29, 2010
The question how uncertificated securities can be provided as effective collateral in South African securities lending transactions has been such a hotly debated topic that, for many years, the majority of participants in the South African securities lending market only accepted cash as collateral for loaned securities. Therefore, the South African securities lending market called for an effective method to provide uncertificated securities as collateral in securities lending transactions.

PARTLY PAID-UP SHARES: COMPANIES ACT, 1973 VERSUS THE NEW COMPANIES ACT - BY ASHLEIGH HALE
Thursday, May 27, 2010
The new Companies Act proposes an approach to partly paid-up shares that is somewhat different to its 1973 predecessor. Consider a scenario in which the founding shareholders of a new BEE company agree to subscribe for shares in the company at a predetermined subscription price. All of the shareholders except one pay the full subscription price on the date agreed for the subscription. One of the shareholders (X) only pays half of the subscription price on the subscription date but the company purports to allot and issue to that shareholder its agreed percentage of shares.

DIRECTORS’ DUTIES IN A VASTLY DIFFERENT CORPORATE LANDSCAPE - BY AMIT PAREKH
Tuesday, November 10, 2009
Extensive codifications of corporate governance principles and common law precepts under the new Companies Act 71 of 2008 serves to highlight the markedly different corporate landscape in which South African companies are now required to do business

SA HIGH COURT OBLIGES LAWYERS TO RECOMMEND MEDIATION - BY JOHN BRAND
Tuesday, November 10, 2009
Lawyers are obliged to recommend mediation, as a result of which attorneys could be deprived of their costs, along with parties who unreasonably refuse to mediate.

TO BEE OR NOT TO BEE? A FINANCIAL SERVICES SECTOR QUANDARY - BY MATTHEW HAMILTON AND AYANDA KHAMBULE
Thursday, August 13, 2009
Since January 2004, the Financial Sector Charter has guided the transformation efforts of financial services enterprises. The Charter has been gazetted as a transformation charter in terms of section 12 of the Broad-Based Black Economic Empowerment Act, 2003.

THE CURRENT GLOBAL CREDIT CRISIS: A PARADIGM SHIFT IN THE IMPLEMENTATION OF BASEL II? - BY GARIKAI MATARIRANO
Thursday, August 13, 2009
The global credit crisis has threatened to undermine the three pillars of Basel II – with potentially serious implications for the South African banking regulator. Many of the world’s major commercial and investment banks have had to write-down huge losses caused by exposure to “toxic assets” on their balance sheets.

NEW COMPANIES ACT OFFERS RELIEF TO STRUGGLING BUSINESSES - BY RACHEL KELLY
Wednesday, August 12, 2009
“A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.” Mark Twain Buffeted by the global credit crisis, many businesses face challenges in securing finance; indeed, some are struggling to get finance at all, whereas while others are finding that existing credit facilities are being reviewed or renewed on less favourable terms.

ADMINISTRATIVE PENALTIES: A DETERRENT TO MARKET ABUSE? - BY JOSHUA JANKS AND DANA SERCHUK
Wednesday, August 12, 2009
The Securities Services Act, 2004 (SSA) has as its object the increase of confidence in the South African financial markets, the promotion of protection of regulated persons and clients, the reduction of systemic risk and the promotion of the international competitiveness of securities services in South Africa. One of the ways the SSA seeks to achieve this object is through the provisions of chapter VIII which deal with market abuse.

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• Consumer Protection Act
• Proposed Labour Law Amendments
• New Companies Act
• NHI