Kirsten Kern
Head of Financial Services Regulatory | Johannesburg
Contact
T: +27 11 669 9553
Overview
Kirsten Kern is a Partner and the Head of the Financial Services Regulatory practice in South Africa, based in our Johannesburg office in the Banking and Finance Department. Kirsten is also co-head of the Bowmans’ fintech service line.
She specialises in banking and financial services regulatory law and has practiced in this field for the Firm’s account since 2006.
Kirsten has over 18 years of experience and expertise in all aspects of banking, financial services and investment management regulatory law (including regulatory enforcement work), and regularly advises clients, both local and foreign, on the content and implications of the Financial Advisory and Intermediary Services Act, 2002, the Financial Sector Regulation Act, 2017, the Collective Investment Schemes Control Act, 2002, the Financial Intelligence Centre Act, 2001, the National Credit Act, 2005, the National Payment Systems Act, 1998, the Banks Act, 1990, the Financial Markets Act, 2012, the Electronic Communications and Transactions Act, 2002 and the Consumer Protection Act, 2008. Kirsten also advises clients on the highly anticipated Conduct of Financial Institutions Bill and its likely implications for the future of the South African financial services landscape under the ‘Twin Peaks’ model of regulation.
Kirsten has strong contacts with the various regulatory bodies and agencies operative under the Acts on which she advises, and she regularly engages on behalf of clients with the Financial Intelligence Centre, the Financial Sector Conduct Authority, the South African Reserve Bank, the Prudential Authority and the National Credit Regulator.
Experience
Recently Kirsten has advised:
- Stonehage Fleming Family & Partners Limited (SFFP) with a legal due diligence on Maitland International Holdings plc and its subsidiaries which hold FSP licences in South Africa, and also assisted with the review of the share purchase agreement and disclosure letter.
- Alexander Forbes in relation to various regulatory issues, legal due diligence and Alexander Forbes Group Holdings Limited on its dual track M&A and ZAR 9.8 billion IPO process, which resulted in Alexander Forbes Group Holdings listing on the JSE. After announcing its intention to float, the company launched an offer for subscription and a concurrent offer for sale by existing shareholders.
- Sanlam Limited in relation to its proposed acquisition of up to 100% of the issued share capital in Assupol Holdings Limited through a scheme of arrangement.
- RMI Investment Managers Affiliates 2 Proprietary Limited with a legal due diligence on Polar Star Management Proprietary Limited (a Category II and IIA FSP-licence holder).
- Royal Investment Managers Proprietary Limited with a legal due diligence on Benguela Global Fund Managers Proprietary Limited (a Category I and II FSP-licence holder).
- Various foreign financial services providers regarding change of control requirements.
- Midbrook Lane Pty Ltd, Riskowitz Value Fund, Protea Asset Management LLC and Khrom Investments Fund, LP regarding the acquisition of increased indirect shareholding in three registered insurers forming part of the Constantia Group.
- Rowe Price International Ltd, Southeastern Asset Management Incorporated, Nomura Asset Management, Nomura International PLC, PIMCO Europe Limited, Colchester Global Investors Limited and countless other clients in respect of their compliance with financial sector laws in South Africa.
- Various local and foreign private equity funds in relation to compliance with South African financial sector laws.
- Various entities, local and foreign, to obtain authorisation or exemptions (where relevant) from the Financial Sector Conduct Authority in accordance with the requirement to be licensed as a financial service provider in terms of the Financial Advisory and Intermediary Services Act, 2002.
- Foreign entities to establish a local presence in South Africa and to obtain the necessary authorisation / licensing from the National Credit Regulator in accordance with the National Credit Act, 2005.
- A leading South African bank on capital adequacy requirements and their application to its Pan-African subsidiaries.
- A South African bank in relation to its intention to acquire an African subsidiary in compliance with the Banks Act, 1990.
- Capitec Bank Limited in relation to its proposed acquisition of Mercantile Bank Limited.
- UBS, Lombard Odier, Morgan Stanley, J.P. Morgan, Bank of America, N.A., Bank of New York Mellon, Standard Chartered Bank, Nomura International PLC, Nomura Asset Management, Nomura International PLC, T. Rowe Price International Ltd, The Standard Bank of South Africa, Capitec Bank Limited and countless other clients regarding all aspects of South African banking and financial services regulation.
- ClearScore Pty Ltd in South Africa from scratch in 2017, and she continues to regularly advise ClearScore and other entities regulated in terms of the National Credit Act, regarding ongoing compliance obligations and the making of submissions to the National Credit Regulator.
- WiGroup Proprietary Limited on the regulatory implications of a mobile application which facilitates peer-to-peer money transfers.
- AirBnB Payments UK Limited on its proposed offering of peer-to-peer payment capabilities in South Africa
- WhatsApp on proposed payments services in South Africa.
- Mastercard on a host of broad payments-related matters from a regulatory and legal perspective.
- Lendico S.A., from establishing the local entity to successfully obtaining the necessary authorisations from the National Credit Regulator in compliance with the National Credit Act, 2005.
Awards
- Chambers Global ranked Kirsten in Band 2 for Banking & Finance: Regulatory (2025-2026), Band 2 for FinTech Legal (2025) and in Band 3 for the same category for five consecutive years (2020-2024).
- Lexology Index (formerly Who’s Who Legal) named Kirsten as a Global Elite Thought Leader: Banking Regulatory (the only South African financial services lawyer to be recognised) (2024 & 2025), as well as a Thought Leader – Africa: Banking Regulatory (2025) and as a Leading Lawyer – South Africa (2017-2018, 2020-2023). Lexology Index (formerly Who’s Who Legal): Fintech named Kirsten as a Leading Lawyer – South Africa (2018-2025) and Kirsten received the Lexology Client Choice Awards for Banking in South Africa (2024/2025).
- Acquisition International named Kirsten as the Leading Financial Services Regulatory Law Adviser of the Year – South Africa (2024/2025).
‘Kirsten Kern is highly experienced, she has a great knowledge of our business and she is a pleasure to deal with.’ – Chambers Global, 2026
AREA OF EXPERTISE
Qualifications
Education
- LLB (cum laude), Rand Afrikaans University (RAU) (now the University of Johannesburg).
- LLM (Banking Law) (cum laude), Rand Afrikaans University (RAU) (now the University of Johannesburg).
INSIGHTS
Overview
Kirsten Kern is a Partner and the Head of the Financial Services Regulatory practice in South Africa, based in our Johannesburg office in the Banking and Finance Department. Kirsten is also co-head of the Bowmans’ fintech service line.
She specialises in banking and financial services regulatory law and has practiced in this field for the Firm’s account since 2006.
Kirsten has over 18 years of experience and expertise in all aspects of banking, financial services and investment management regulatory law (including regulatory enforcement work), and regularly advises clients, both local and foreign, on the content and implications of the Financial Advisory and Intermediary Services Act, 2002, the Financial Sector Regulation Act, 2017, the Collective Investment Schemes Control Act, 2002, the Financial Intelligence Centre Act, 2001, the National Credit Act, 2005, the National Payment Systems Act, 1998, the Banks Act, 1990, the Financial Markets Act, 2012, the Electronic Communications and Transactions Act, 2002 and the Consumer Protection Act, 2008. Kirsten also advises clients on the highly anticipated Conduct of Financial Institutions Bill and its likely implications for the future of the South African financial services landscape under the ‘Twin Peaks’ model of regulation.
Kirsten has strong contacts with the various regulatory bodies and agencies operative under the Acts on which she advises, and she regularly engages on behalf of clients with the Financial Intelligence Centre, the Financial Sector Conduct Authority, the South African Reserve Bank, the Prudential Authority and the National Credit Regulator.
Experience
Recently Kirsten has advised:
- Stonehage Fleming Family & Partners Limited (SFFP) with a legal due diligence on Maitland International Holdings plc and its subsidiaries which hold FSP licences in South Africa, and also assisted with the review of the share purchase agreement and disclosure letter.
- Alexander Forbes in relation to various regulatory issues, legal due diligence and Alexander Forbes Group Holdings Limited on its dual track M&A and ZAR 9.8 billion IPO process, which resulted in Alexander Forbes Group Holdings listing on the JSE. After announcing its intention to float, the company launched an offer for subscription and a concurrent offer for sale by existing shareholders.
- Sanlam Limited in relation to its proposed acquisition of up to 100% of the issued share capital in Assupol Holdings Limited through a scheme of arrangement.
- RMI Investment Managers Affiliates 2 Proprietary Limited with a legal due diligence on Polar Star Management Proprietary Limited (a Category II and IIA FSP-licence holder).
- Royal Investment Managers Proprietary Limited with a legal due diligence on Benguela Global Fund Managers Proprietary Limited (a Category I and II FSP-licence holder).
- Various foreign financial services providers regarding change of control requirements.
- Midbrook Lane Pty Ltd, Riskowitz Value Fund, Protea Asset Management LLC and Khrom Investments Fund, LP regarding the acquisition of increased indirect shareholding in three registered insurers forming part of the Constantia Group.
- Rowe Price International Ltd, Southeastern Asset Management Incorporated, Nomura Asset Management, Nomura International PLC, PIMCO Europe Limited, Colchester Global Investors Limited and countless other clients in respect of their compliance with financial sector laws in South Africa.
- Various local and foreign private equity funds in relation to compliance with South African financial sector laws.
- Various entities, local and foreign, to obtain authorisation or exemptions (where relevant) from the Financial Sector Conduct Authority in accordance with the requirement to be licensed as a financial service provider in terms of the Financial Advisory and Intermediary Services Act, 2002.
- Foreign entities to establish a local presence in South Africa and to obtain the necessary authorisation / licensing from the National Credit Regulator in accordance with the National Credit Act, 2005.
- A leading South African bank on capital adequacy requirements and their application to its Pan-African subsidiaries.
- A South African bank in relation to its intention to acquire an African subsidiary in compliance with the Banks Act, 1990.
- Capitec Bank Limited in relation to its proposed acquisition of Mercantile Bank Limited.
- UBS, Lombard Odier, Morgan Stanley, J.P. Morgan, Bank of America, N.A., Bank of New York Mellon, Standard Chartered Bank, Nomura International PLC, Nomura Asset Management, Nomura International PLC, T. Rowe Price International Ltd, The Standard Bank of South Africa, Capitec Bank Limited and countless other clients regarding all aspects of South African banking and financial services regulation.
- ClearScore Pty Ltd in South Africa from scratch in 2017, and she continues to regularly advise ClearScore and other entities regulated in terms of the National Credit Act, regarding ongoing compliance obligations and the making of submissions to the National Credit Regulator.
- WiGroup Proprietary Limited on the regulatory implications of a mobile application which facilitates peer-to-peer money transfers.
- AirBnB Payments UK Limited on its proposed offering of peer-to-peer payment capabilities in South Africa
- WhatsApp on proposed payments services in South Africa.
- Mastercard on a host of broad payments-related matters from a regulatory and legal perspective.
- Lendico S.A., from establishing the local entity to successfully obtaining the necessary authorisations from the National Credit Regulator in compliance with the National Credit Act, 2005.
Awards
- Chambers Global ranked Kirsten in Band 2 for Banking & Finance: Regulatory (2025-2026), Band 2 for FinTech Legal (2025) and in Band 3 for the same category for five consecutive years (2020-2024).
- Lexology Index (formerly Who’s Who Legal) named Kirsten as a Global Elite Thought Leader: Banking Regulatory (the only South African financial services lawyer to be recognised) (2024 & 2025), as well as a Thought Leader – Africa: Banking Regulatory (2025) and as a Leading Lawyer – South Africa (2017-2018, 2020-2023). Lexology Index (formerly Who’s Who Legal): Fintech named Kirsten as a Leading Lawyer – South Africa (2018-2025) and Kirsten received the Lexology Client Choice Awards for Banking in South Africa (2024/2025).
- Acquisition International named Kirsten as the Leading Financial Services Regulatory Law Adviser of the Year – South Africa (2024/2025).
‘Kirsten Kern is highly experienced, she has a great knowledge of our business and she is a pleasure to deal with.’ – Chambers Global, 2026
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