financial services and investment management practice


The Bowman Gilfillan Financial Services and Investment Management Practice provides high quality legal advice to domestic and international clients on the legal and regulatory aspects of financial services and investment management.

The team consists of seven directors, three senior associates, two tax executives and other junior attorneys with a wealth of experience in the law pertaining to financial services and investment management. This blend of professionals ensures that transactions are appropriately staffed with regard to the level of complexity and, that the practice has sufficient depth in the sense that there is cover and backup every step of the way. What’s more, Bowman Gilfillan’s strong commitment to transformation in the South African context also ensures that transactions are appropriately staffed from a diversity perspective.

talent and expertise

Our practice’s experience spans both domestic and cross-border transactions. We are continuously exposed to, and keep pace with, international legal developments. Our service offerings are on a par with leading law firms practicing in London, New York and other international and commercial centres, which enables us to lead the domestic markets in terms of setting the standard for innovation and documentation standards.

The right combination of expertise. A customised, individual approach.

areas of practice

We offer legal advice in relation to all aspects of financial services and investment management. Our practice regularly advises a broad range of clients on all aspects of South African regulatory work as it pertains to financial services and investment management, including advising domestic and foreign banks on South African banking law, and providing specialist advice on structured products, derivatives and the development of Islamic investment products. Our practice is recognised in the South African market for its exchange control expertise.

We regularly advise on the establishment of collective investment schemes, hedge funds and other structured funds, drafting and negotiating investment management and advisory agreements, and advising on custodial arrangements on the local exchanges. We also provide advice on the regulatory environment affecting private equity funds.

Our extensive list of specialist legal services includes:

  • establishing collective investment schemes, hedge funds and other structured funds;
  • legislation and regulations affecting investment funds, investment/asset managers and investors;
  • drafting and negotiating investment management agreements, custody agreements, investment advisory agreements and dealing agreements;
  • custodial arrangements, including STRATE rules;
  • derivative transactions including making successful representations to various industry bodies on Islamic finance particularly on the structuring of Islamic compliant financial products;
  • securities trading and securities lending arrangements;
  • reviewing prospectuses;
  • reviewing private placement memoranda;
  • subscriptions for interests in investment funds and negotiating side letters in relation to such subscriptions;
  • legal due diligence exercises in relation to investment management and
  • investment funds;
  • the investment of pension fund assets;
  • tax law in relation to investment funds, structuring of financial products and investors; and
  • drafting legal opinions on the South African regulatory regime as it relates to financial services and investment management.

Our practice also has a particular competence in dealing with the Financial Services Board (the regulator responsible for regulating financial services, including approving the operation of foreign domiciled investment funds in South Africa).

Collaboration with other practice groups ensures an integrated service.

clients and recent deals

  • Aberdeen Asset Management
  • Absa Bank
  • ABN Amro
  • African Rainbow Minerals
  • Alexander Forbes
  • Aviva Investors Global Services Limited
  • Bank of America Merrill Lynch
  • Bank of New York Mellon
  • Barclays
  • Barclays Capital
  • Barloworld
  • China Construction Bank
  • China Development Bank
  • Citigroup
  • City of Johannesburg
  • Colchester Global
  • Investors Limited
  • Coronation Fund Managers
  • Credit Suisse
  • Datatec
  • DBSA
  • Denel
  • Deutsche Bank
  • Dölberg Group
  • Ericsson
  • Eskom
  • Export Development Canada
  • First Africa
  • First National Bank
  • FirstRand Bank
  • Fitch
  • General Electric Asset Management
  • Goldman Sachs
  • Grindrod Bank
  • IBM
  • IG Markets Limited
  • Investec Asset Management
  • Investec Bank
  • JP Morgan
  • Liberty
  • Macquarie
  • Mitsubishi UFJ Financial Group
  • Morgan Stanley
  • Nedbank Capital
  • Nedbank Corporate
  • Nomura Asset Management
  • Old Mutual
  • Old Mutual Specialised Finance
  • Omnicom Finance Plc
  • PIMCO Europe Limited
  • Public Investment
  • Corporation Limited
  • Rand Merchant Bank
  • Renaissance Capital Limited
  • Royal Bank of Scotland
  • Saxo Capital Markets
  • South Africa
  • Sanlam
  • Sanlam Capital Markets
  • Sanlam Collective Investment
  • Sanlam Investment Management
  • South Eastern Asset Management
  • Standard Chartered Bank
  • Standard Bank
  • Sumitomo Mitsui Banking Corporation
  • Swiss Re
  • T. Rowe Price International Ltd
  • Virgin Active

We also work regularly with, amongst others, the following international law firms:

  • Allen & Overy
  • Baker & McKenzie
  • Berwin Leighton Paisner
  • Clifford Chance
  • Denton Wilde Sapte
  • Freshfields
  • Latham & Watkins
  • Linklaters
  • Mayer Brown
  • McDermott Will & Emery
  • Minter Ellison Lawyers
  • Morrison & Foerster LLP
  • Paul Weiss
  • Sherman & Sterling
  • Simmons & Simmons
  • Slaughter & May

Our Bowman Gilfillan Financial Services and Investment Management Practice has represented a vast range of clients in numerous aspects of financial services and investment management. To date, we have advised and/or assisted:

  • Invesco with regard to collective investment scheme registration and deregistration in South Africa;
  • Russell and Renaissance Capital with collective investment scheme registration in South Africa;
  • SEI with the first UCITS III compliant fund registration in South Africa;
  • Investec Asset Management, Rand Merchant Bank, Deutsche Bank, The Standard Bank of South Africa, Goldman Sachs International, BNP Paribas, ICICI, Invesco, Russell, Absa Bank, Absa Wealth Management, Nedbank, Barclays Wealth Management, Macquarie and Citigroup on the regulatory regime in South Africa pertaining to collective investment schemes;
  • First National Bank, Invesco, First Rand Bank, RMB, JP Morgan, Macquarie, Deutsche Bank, Citigroup, Barclays Wealth, Absa Wealth and Standard Chartered Bank with understanding the regulatory framework in South Africa pertaining to the provision of financial services in South Africa and with lodging associated registration applications to the FSB where applicable;
  • PIMCO Europe Limited, Aberdeen Asset Management PLC, South Eastern Asset Management and Colchester Global Investors Limited on the registration requirements for fund managers;
  • Sanlam Collective Investments with the registration of an administrative financial services provider;
  • Saxo Capital Markets South Africa and Sanlam Collective Investments with the formation and registration of nominee companies;
  • Incorporation and registration of Credit Suisse Securities (Johannesburg) (Pty) Limited as a financial services provider and member of the JSE Securities Exchange;
  • Omnicom Finance Plc. with the regulatory requirements and registration of their South African subsidiary;
  • Investec, Deutsche Bank and Cadiz with their prime broking mandates;
  • Renaissance Capital on the regulatory aspects of acquiring a brokerage;
  • Sanlam Investment Management on the regulatory aspect of a network agreement with Independent Financial Advisors;
  • International Swaps and Derivatives Association, the International Capital Market Association and the Securities Lending and Repo Committee on the enforceability of the ISDA, GMSLA, GMRA, OSLA and GESLA Master Agreements in South Africa;
  • Rand Merchant Bank, Citigroup, BNP Paribas, JP Morgan and Deutsche Bank on the enforceability of various provisions of the ISDA Master Agreement and the GMSLA Master Agreement including the enforceability of the collateral provisions contained in the above mentioned Master Agreements;
  • BNP Paribas, Credit Suisse, Goldman Sachs International, Macquarie, Morgan Stanley, Barclays Wealth, Citigroup, General Electric Asset Management, Sumitomo Mitsui Banking Corporation and Nomura Asset Management on the Exchange Control regulations in South Africa and assisting, where applicable, with applications to the South African Reserve Bank;
  • STRATE on custodial arrangements pertaining to dematerialised securities;
  • Aviva Investors Sicav on mergers of sub-funds and de-registration. Also advised Aviva on private placement arrangements;
  • IG Markets Limited on its CFDs business in South Africa.

Our practice also:

  • acted for Goldman Sachs International in a number of complex derivative transactions including total retail swaps, credit default swaps and extinguishing swaps done on a back-to-back basis through an authorised dealer in foreign exchange.
  • acted for Deutsche Bank, Bank of America, Merrill Lynch, Investec, Rand Merchant Bank, BNP Paribas, Nedbank and JP Morgan in negotiating interest rate and cross currency derivate transactions with various counter parties.
 
 
Share
   
In association with Bowman Gilfillan Africa GroupMember of Lex MundiMember of Employment Law AllianceWe Support The Global Compact
Bowman Gilfillan © 2012 | Legal Notices | Contact Bowman | Mobile | Subscriptions | Site Map