New guide published on state of bank recovery and resolution laws in Africa

New guide published on state of bank recovery and resolution laws in Africa

New guide published on state of bank recovery and resolution laws in Africa

Law firm Norton Rose Fulbright has launched a comparative guide on the state of recovery and resolution laws for banks in Africa. The firm explained: “Banks require specific resolution arrangements as a result of their interconnectedness with each other, the rest of the financial system and the real economy. A credible recovery and resolution regime not only impacts depositors; it…

$400m silicosis class action agreed for South African gold miners

$400m silicosis class action agreed for South African gold miners

$400m silicosis class action agreed for South African gold miners

Six South African gold mining houses have agreed a ZAR5bn ($400m) class action settlement with law firms representing thousands of miners who contracted the fatal lung diseases silicosis and tuberculosis. In the first class action settlement of its kind ever reached in South Africa, the agreement follows a six-year legal battle by miners to win compensation for illnesses they claim…

Iran sanctions: it’s still uncertain what will happen, but here’s what could happen

Iran sanctions: it’s still uncertain what will happen, but here’s what could happen

Iran sanctions: it’s still uncertain what will happen, but here’s what could happen

On 12 January this year, US President Trump announced his intention to not renew US sanctions waivers that underpin US participation in the Joint Comprehensive Plan of Action (JCPOA) for Iran if that agreement’s “terrible flaws” are not fixed. President Trump has also said that if he believes fixing the JCPOA is not within reach, he would withdraw from it.…

Conduct and culture risk management enters new phase: survey

Conduct and culture risk management enters new phase: survey

Conduct and culture risk management enters new phase: survey

Financial services companies are taking conduct and culture risk increasingly seriously in the face of regulatory pressure, developing more holistic and enterprise-wide responses, suggests a new survey by Thomson Reuters. According to Thomson Reuters’ fifth annual survey on culture and conduct risk, financial services companies have named changes in regulation as the main challenge for boards managing conduct risk during…

Risk managers cannot afford to stand still

Risk managers cannot afford to stand still

Risk managers cannot afford to stand still

 Risk management has undergone huge change across Africa in the past few years, as Commercial Risk Africa’s Risk Frontiers Africa 2018 survey reveals. Below, as a foretaste of the survey, we hear from some of the risk managers taking part in it about what keeps them awake at night and the evolution of risk management The European Union’s General Data…

Regulation masterclass

Regulation masterclass

Regulation masterclass

Insurers urged to include regulatory compliance alongside other risks in their corporate strategies,
as Gareth Stokes reports Risk managers should be sat at the right hand of CEOS and not hold junior positions, if the company is to remain regulation-compliant and maximise its opportunities. That was among the suggestions from a panel of regulators, past and present, speaking at the Continental…

Emerging risk landscape hots up as law firms seek opportunities

Emerging risk landscape hots up as law firms seek opportunities

Emerging risk landscape hots up as law firms seek opportunities

Litigation funders are travelling the world looking for fertile ground to bring claims and finding success in an increasing number of places, warns Tricia Hobson, Norton Rose Fulbright global chair and head of its Australia and Asia-Pacific insurance practice. Speaking in London recently, she said much of the pattern of behaviour follows the US, but claimant lawyers and litigation funders…

Competition legislation brings its own risks as it becomes more widespread across Africa

Competition legislation brings its own risks as it becomes more widespread across Africa

Competition legislation brings its own risks as it becomes more widespread across Africa

The top ten economies in Africa all have active competition regulation, except Angola and Nigeria, but those countries are in the process of establishing competition law regimes, which are expected to be up and running soon. According to Nick Altini, partner and head of the competition and antitrust practice at Baker McKenzie in Johannesburg, about 20 countries currently have functional…

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