Tabacks advises participants at all levels in this crucial and highly regulated sector
Our team has extensive experience and expertise in the banking and financial services sector, having advised small, medium and large enterprises and institutions in regard to issues ranging from regulatory compliance to transactions for services, lending and financing arrangements, security for loans as well as mergers and acquisitions.
International events in the 21st century have resulted in this sector being one of the most highly regulated worldwide. These events include the introduction in many countries of anti-money laundering and tax evasion measures, data privacy laws and consumer protection legislation. In addition, innovations such as blockchain and virtual currencies have revolutionised the ways in which money is accounted for and exchanged. Because of the obvious importance of the banking and financial sector on the economy, it has also come under scrutiny from competition authorities and other regulators in South Africa and elsewhere.
As a result, providers of financial services need to be able to negotiate and comply with many regulatory measures. For those transacting internationally, the challenge is increased, as account must be taken not only of the laws of their home country, but also those of any other country where a part of the transaction may take place.
To stay abreast of developments, financial service providers need to ensure that they are at all times compliant with applicable laws, and that they are properly licensed to carry on their businesses and to use all the necessary software and technologies.
Access to capital is the oil in the engine of any economy. To ensure that funding is made readily available and properly used, lenders and borrowers need to ensure that the contracts regulating their relationships are fair, effective and legally sound.
Banking & Financial Services industry expertise
• Regulatory advice in regard to laws governing registration and licensing of financial institutions and service providers
• Advice on compliance with credit and consumer protection legislation, data protection regulation and anti-money laundering
• Advice on exchange controls
• Banking and finance agreements and securing of debts
• Insurance and banking dispute resolution
• Venture capital and private equity transactions
• Establishing en commandite partnerships
• Enforcement of financing agreements and security
Experience
Advising on the statutory requirements for the formation and registration of a co-operative bank
Acting on behalf of insurance tech start-up in securing funding from large multi-national insurance company
Cross border litigation for a Dubai-based asset manager for recovery of funds in excess of R1 billion
Formulating risk-minimising structures for trade finance providers and drafting agreements required to implement them
Advising financial institutions on the implementation of common reporting standards and other tax regulatory issues
Advising an Indian-based state bank in disputes with the South African Reserve Bank
Advising prominent private equity firms on strategic investments and restructuring in various sectors
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Tabacks premier team of real industry experts from multiple practice areas are driven to deliver throughout the project life cycle with their deep product expertise, extensive multi-jurisdictional experience and leading commercial acumen for the highest quality bespoke legal service in the sector. Find out how we can help solve the challenges in your industry.