- Publications & Insights
Bright Tibane is a senior associate in our Johannesburg office Banking and Finance department. Bright specialises in financial services, securities, insurance, investment funds and banking regulations.
Bright regularly advises clients, both local and international, on the application and implications of the Financial Advisory and Intermediary Services Act, 2002; the Collective Investment Schemes Control Act, 2002; the Banks Act, 1990; the Financial Intelligence Centre Act, 2001 (being anti-money laundering legislation in South Africa); the National Credit Act, 2005; the Long-Term Insurance Act, 1998; the Short-Term Insurance Act, 1998; and the Currency and Exchanges Act 9 of 1933 (along with the regulations to and host of subordinate legislation promulgated under these legislation).
He regularly assists clients with establishment of, and registration as, financial services providers, collective investment schemes, hedge funds, banks (including branches and Rep Offices of banks), credit providers and insurers, and with obtaining exchange control approvals, and also advises clients on their ongoing obligations and reporting requirements in respect of the above legislation. Bright also regularly advises clients on marketing and operating local and foreign investment funds (such as collective investment schemes, hedge funds, private equity funds etc.) in South Africa.
Bright also assists clients with drafting and reviewing brokerage agreements and investment mandates, among others.
Bright has an LLB from the University of Limpopo and an LLM from the University of the Witwatersrand.
- Advised Amundi Asset Management on its proposed marketing and selling of collective investment schemes in South Africa, and assisted with an application for a financial services provider licence.
- Advised Standard Bank of South Africa Limited in respect of a multi-jurisdictional due diligence/project, in relation to Standard Bank’s proposal to develop and offer financial products across six African jurisdictions. Also acted as a coordinator of this project.
- Advised Citibank N.A, South Africa Branch, on a multi-jurisdictional due diligence/project relating to Citibank’s proposed offering and existing offering of banking, insurance, lending, forex and derivatives products in various 28 African jurisdictions on a cross-border basis. Also acted as a coordinator of this project.
- Advised Ferratum Group in relation to a proposed provision of quick-loan services to South African customers.
- I have assisted IronFX Global to establish presence in South Africa and acquire a financial services provider licence for its local operations.
Publications & Insights
- COVID-19: Expectations of managers of collective investment schemes, South Africa
- COVID-19: Impact on compliance with various regulatory deadline requirements in South Africa
- 2019 Thomson Reuters Practical Law Q&A Guide to FinTech in South Africa
- Regulations under the Financial Markets Act, 2012: Authorisation as an OTC Derivatives Provider (ODP)
- State-owned companies and the Banks Act
- Thomson Reuters Practical Law Q&A guide to FinTech in South Africa
- A need for financial services providers to reinforce monitoring mechanisms over representatives
- Amendment of the Notice on Qualifications, Experience and Criteria for Approval as Compliance Officer
- South African pension funds seeking to invest in foreign private equity remain impeded