Financial Services

Why Lexis® Practical Guidance: Financial Services?

Users get direct access to critical, up-to-date information and guidance that they can rely on.

Lexis® Practical Guidance Financial Services is a web-based solution that guides users through the practical intricacies of compliance in the financial services sector.

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Expert Contributors
Shawn Barnett

Shawn is a banking and finance lawyer based in Johannesburg.
He advises and leads on high-end complex domestic and international banking and finance transactions. He focuses on structured and derivative transactions, general financial market regulation and enterprise risk management advisory work. Shawn was a director in the banking and finance department of Deneys Reitz Attorneys before he joined Macquarie Securities South Africa as country counsel. While at Macquarie Shawn assisted in the developing and implementing of OTC derivative transactions and dividend yielding instruments for the collective investment industry. He has also advised local and international banks on industry standard derivative documentation, including ISDA Master Agreements, GMSLAs and GMRAs. Shawn has also advised on the enforceability of the collateral arrangements under the ISDA Credit Support Documents under South African law.
He has advised various local and international banks, brokers and other financial institutions on the financial regulatory environment, including on the Securities Services Act, the Rules of the JSE Limited’s Equity’s Division, Derivatives Division and Interest Rate and Currency Division (previously the bond market). He also advises on the rules of Strate Limited and other aspects relating to the custody and administration of securities. He is very experienced in the utilisation of derivatives in structured trades and preference share transactions, both in acquisition transactions and as a general investment product. Shawn was seconded to JP Morgan where he assisted the trading desk on derivative transactions and investment banking transactions including the Absa/Barclays merger.
He has also advised in relation to:
• establishing fund structures for the venture capital, private equity and hedge fund space, utilising en commandite partnership, trust or corporate structures;
• local registrations of foreign collective investment schemes;
• advisory work in relation to the general investment restrictions relating to funds;
• structuring of investment products for the collective investment market;
• FAIS licensing applications and advisory services in respect of the collective investment market; and
• general regulatory advice applicable to the collective Investment market.
He has also worked extensively with the National Credit Act, and was involved in retail banking credit agreements for Standard Bank and First National Bank.
He has also advised on capital market transactions, including the establishment of domestic medium term note programs, securitisation structures, bond issues and other structured notes and warrants.
Shawn has been listed as a leading lawyer in the banking and finance space in international publications, including Chambers Global.
He holds a B.Proc, Bachelor of Laws and Master of Laws degrees.

Sascha Graham

Sascha is a financial services lawyer based in Johannesburg. Sascha forms part of our banking and finance practice with specialisation in regulatory compliance. Her areas of practice include financial services, financial markets regulation, banking regulation, the regulation of stock exchanges, the regulation of local and foreign collective investment schemes and exchange control. Her work in the industry includes advising both domestic and foreign financial services providers, collective investment schemes and banks in relation to corporate and regulatory matters.
In addition, during her period of articles of clerkship, Sascha worked in mergers and acquisition, general and insurance litigation, and aviation.
Sascha graduated from the University of Johannesburg with a Bachelor of Commerce (Law) (Cum Laude) and Bachelor of Laws in 2012 and 2014 respectively. In 2012, Sascha was awarded the Herman Bosman Prize for the BCom (Law) student with the highest mark in his/her final year as well as the Rossouws Scholarship for the most deserving student in the faculty of law. Sascha is also a member of the Golden Key International Honour Society. Sascha joined us in 2014 to serve her articles of clerkship and was appointed as an associate following the completion of her articles.

Gennel Chettiar-Dayaljee

Gennel is a banking and finance lawyer based in Johannesburg, South Africa. She focuses on opinion and drafting work relating to financial markets, banking and stock exchange regulation, financial products, pension funds, medical schemes, employee incentive schemes and investment management and structures.
Gennel has experience and knowledge in insurance law (pure insurance, regulatory aspects and the commercial side), regulatory law, contract law, dispute resolution and drafting of contracts. Gennel’s knowledge is supplemented by an understanding of laws such as the Financial Advisory and Intermediary Services Act, the Medical Schemes Act, the Pension Funds Act, the Banks Act and the Collective Investment Schemes Control Act.
She is currently advising South Africa’s largest pension fund and a large South African Airline on the employee benefits and related issues.
Prior to joining us Gennel studied at the University of Witwatersrand and attained a Bachelor of Laws (with distinction). Gennel holds a Bachelor of Laws degree and is an admitted attorney.

Table of contents.

  • Financial services in SA
  • Registration
  • Discretionary services
  • Application process
  • Key personnel
  • Fit and proper requirements

  • Money laundering control obligations
  • Know your client

  • Long and short term insurance
  • Insurance intermediaries
  • Solvency Assessment and Management
  • Reinsurance or underwriting
  • Medical schemes

  • Hedge funds
  • Collective investment schemes

  • Securities services in SA

  • Equity markets
  • Debt markets

  • Over the counter and derivative trading

  • Pension funds

  • Local and foreign banks

  • The impact of the CPA on the financial services market

  • The impact of POPI on the financial services market

  • The complaints process

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