GETTING THE DEAL THROUGH: SECURITIES FINANCE 2013

What are the relevant statutes and regulations governing securities offerings?

Which regulatory authority is primarily responsible for the administration of those rules? The relevant statutes governing securities offerings are the Companies Act, 2008 (the Companies Act), the Collective Investment Schemes Control Act, 2002 (CISCA), the Financial Advisory and Intermediary Services Act, 2002 (the FAIS Act), the Securities Services Act, 2004 (the Securities Services Act) and the Banks Act, 1990 (the Banks Act). This legislation applies to listed and unlisted securities. A new act, the Financial Markets Act, 2012 (Financial Markets Act) has recently been promulgated and is expected to come into force during the course of 2013. The Financial Markets Act will repeal and replace the Securities Services Act in its entirety when it comes into force.