Advisory and regulatory
Financial services regulation
We advise financial services businesses, and businesses operating alongside them, on the regulatory frameworks that govern the financial sector.
Overview
South Africa's financial sector operates within a demanding regulatory architecture, with prudential and market conduct oversight, licensing requirements and extensive anti-money laundering obligations. Our financial services regulation work helps businesses understand where their activities sit within that architecture and how to operate within it with confidence.
We advise on the frameworks administered by the Financial Sector Conduct Authority, on the Financial Advisory and Intermediary Services Act, and on the obligations of accountable institutions under the Financial Intelligence Centre Act. Our work ranges from structuring new products and business models through to policies, governance and the response to regulatory enquiries.
We do not act as a compliance officer or key individual for licensed financial services providers. We advise the business, its board and its appointed compliance function.
Services
What the work involves
Regulatory perimeter analysis
We assess whether a product, service or business model falls within a regulatory regime, and what licences, registrations or exemptions may be required. Early clarity on these questions avoids costly restructuring later.
FSCA and FAIS frameworks
We advise on the governance, policies and operational frameworks required of businesses regulated by the FSCA and under FAIS, including fit and proper requirements, conduct standards and representative arrangements. We design these frameworks to be proportionate to the business and to be applied consistently day to day.
FIC Act and AML/KYC programmes
We prepare risk management and compliance programmes, customer due diligence procedures and record-keeping frameworks for accountable institutions, and advise on registration with the Financial Intelligence Centre and on reporting obligations. We draft programmes that operational teams can apply, with clear responsibilities, escalation paths and record-keeping.
Product and distribution structuring
We advise on the structuring of financial products and their distribution, including arrangements with intermediaries, binder and outsourcing arrangements, and the allocation of regulatory responsibility. Careful structuring at the design stage reduces regulatory risk throughout the product's life.
Fintech and new business models
We advise technology-led businesses entering financial services on the regulatory implications of their models, including payments, lending and investment platforms, and on partnering with licensed institutions. We help founders understand regulatory requirements early, before the model is built around assumptions that may not hold.
Regulatory engagement
We help clients prepare for and respond to regulatory enquiries, inspections and information requests, including the preparation of written submissions. We help clients engage with regulators constructively, with a clear and accurate account of the facts and their position.
Transactions in the financial sector
We advise on the regulatory aspects of acquisitions, investments and restructurings involving financial services businesses, including approvals that may be required for changes in control. We coordinate the regulatory workstream with the commercial transaction so that approvals do not delay completion.
Who we work with
Financial services providers and intermediaries; fintech businesses; accountable institutions under the FIC Act; investors in financial services businesses; and companies whose products or services touch regulated financial activity.
How we work
Perimeter first
We establish what regulation applies before designing the response.
Proportionate frameworks
Policies and programmes are designed to fit the scale and risk of the business.
Clear roles
We support, rather than replace, the client's licensed compliance function.
Common questions
Can you act as our compliance officer?
No. We advise the business and its board and support the appointed compliance function, but we do not hold regulated roles for licensed providers.
Technically sound. Commercially minded.
Advice that begins with technical precision and extends to the commercial and strategic judgement that founders, owners and executives rely on.