Category Archives: Banking and Finance law

Banking and Finance Law news articles, reiews, notes and blog examples.

Guidance on conducting insurance business in terms of section 5 of the Insurance Act

Section 5(1) of the Insurance Act 2017 prohibits any person from conducting insurance (including reinsurance) business in South Africa unless licensed under the Act. Under section 5(2), a foreign re/insurer will be regarded as conducting insurance business in South Africa … Continue reading

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CFTC chairman asks FRB to issue guidance on implementation of impending Phase Five margin requirements

By Brad Rosen, J.D. In a letter to Federal Reserve Board Vice Chairman Randal Quarles dated April 29, 2019, CFTC Chairman J. Christopher Giancarlo laid out a number of significant issues concerning the “Phase Five” implementation requirements for initial margin … Continue reading

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Securities Attorney Jake Zamansky Gets Mentioned in Wealth Management Regarding Yield Enhancement Strategy (YES)

The yield enhancement strategy (YES) is often pitched as a “safe” or “low-risk” option for investors who are interested in maintaining consistent returns. However, reality has recently shown that the investment products bought and sold under YES are extremely complex … Continue reading

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FDCPA Plaintiff Lacks Standing to Bring Class Action for Validation Letter

In Pozzuolo v. Portfolio Recovery Associates, LLC, the Eastern District of Pennsylvania recently dismissed the named plaintiff of a putative class action for lack of standing to bring suit. Pozzuolo sought to represent a class of individuals who received validation … Continue reading

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FSB designates DSB as UPI Service Provider

On 2 May 2019, the Financial Stability Board (FSB) announced that it has designated The Derivatives Service Bureau (DSB) Ltd (DSB) as the service provider for the future Unique Product Identifier (UPI) system. As the sole issuer of UPI codes, … Continue reading

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