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Bright Tibane

Partner | Johannesburg

Bright-Tibane
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Contact

T: +27 11 669 9521

E: bright.tibane@bowmanslaw.com

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Overview

Bright Tibane is a Partner in our Johannesburg office Banking & Finance department and a member of the Financial Services Regulatory practice.

Bright is a financial sector-focused regulatory lawyer who specialises in financial services (including asset management), securities, fund management, domestic and international payment services, financial technology (fintech) services, regulated lending, exchange control, banking services and anti-money laundering and counter-terrorist financing.

He regularly advises financial service providers (including asset managers), capital market participants (such as exchanges, brokers, custodians and nominees), fund managers, domestic and international payment service providers, fintech service providers, regulated credit providers and banks on compliance matters, product distribution and marketing requirements, and on registration, licensing, authorisation and approval requirements. He also assists clients with applications for regulatory registration, licensing, authorisation, approval and exemptions, leveraging his good relationship with financial sector regulators.

Bright has rich exchange control experience, placing him in the great position to service clients in and outside the financial sector in respect of cross-border transactions, such as cross-border loans and cross-border investments.

Bright assists clients with drafting, reviewing and negotiating regulated agreements such as brokerage agreements, product distribution agreements, investment mandates, merchant acquiring agreements (among others).

Experience

  • 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 Marlborough Fund Managers Limited regarding the registration of its investment funds for promotion in South Africa and on a host of related legal and regulatory matters
  • 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.
  • 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.
  • Advised Saxo Capital Markets on a proposed introducing broker agreement with Sasfin Securities (Pty) Ltd.
  • Advised Liquidnet Europe Limited on a brokerage agreement with Avior Capital Markets Pty Ltd.
  • Advised Eskom Pension and Provident Fund on investment in Abraaj Africa Fund III, L.P, a Cayman Islands exempted limited partnership.
  • Advised Public Investment Corporation (SOC) Limited, acting on behalf of the Government Employees Pension Fund, on investment in Kleoss Fund I, an en commandite partnership governed by the laws of South Africa and a closed-ended private equity fund focusing on middle market capitalisation companies throughout South Africa.
  • Advised Saxo Bank A/S and Saxo Capital Markets UK Limited on securities and exchange control matters.
  • Advised Link Investor Services Proprietary Limited in relation to the treatment of clients’ unclaimed funds held by its registered nominee.
  • Advised Capitec Bank Limited in relation to its acquisition of Mercantile Bank Limited’s business, from a regulatory perspective.

AREA OF EXPERTISE

Finance Financial Services Regulatory Fintech Regulatory Services

Qualifications

  • LLB from the University of Limpopo.
  • LLM from the University of the Witwatersrand.

INSIGHTS

South Africa: Corporation for Deposit Insurance launched South Africa: FinSurv’s concerning silence on the regulation of crypto assets South Africa: Warning – exchange controls apply beyond cross-border transactions South Africa: Draft Deposit Insurance Regulations South Africa: Exemption of persons rendering a financial service in relation to crypto assets from certain requirements Chambers and Partners: Fintech 2023 Guide – South African Chapter South Africa: Grey-listing by the Financial Action Task Force South Africa: Commencement of sections 31 and 56 of the Financial Intelligence Centre Act, 2001 South Africa: Financial Services Conduct Authority Information Request 7 of 2022 South Africa: Withdrawal and replacement of FSCA FAIS Notice 90 of 2022 published on 19 October 2022 South Africa: Declaration of crypto assets as a financial product South Africa: Amendments to the Money Laundering and Terrorist Financing Control Regulations 2002 published under FICA Chambers and Partners: Fintech 2022 Guide – South African Chapter Lexology: Getting the deal through – Fintech 2022: South African Chapter South Africa: Consultation paper on the feasibility of establishing a domestic card scheme The Directive for Conduct within the National Payment System In Respect of Domestic Card Transactions: Amendment of the Effective Date 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

Overview

Bright Tibane is a Partner in our Johannesburg office Banking & Finance department and a member of the Financial Services Regulatory practice.

Bright is a financial sector-focused regulatory lawyer who specialises in financial services (including asset management), securities, fund management, domestic and international payment services, financial technology (fintech) services, regulated lending, exchange control, banking services and anti-money laundering and counter-terrorist financing.

He regularly advises financial service providers (including asset managers), capital market participants (such as exchanges, brokers, custodians and nominees), fund managers, domestic and international payment service providers, fintech service providers, regulated credit providers and banks on compliance matters, product distribution and marketing requirements, and on registration, licensing, authorisation and approval requirements. He also assists clients with applications for regulatory registration, licensing, authorisation, approval and exemptions, leveraging his good relationship with financial sector regulators.

Bright has rich exchange control experience, placing him in the great position to service clients in and outside the financial sector in respect of cross-border transactions, such as cross-border loans and cross-border investments.

Bright assists clients with drafting, reviewing and negotiating regulated agreements such as brokerage agreements, product distribution agreements, investment mandates, merchant acquiring agreements (among others).

Experience

  • 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 Marlborough Fund Managers Limited regarding the registration of its investment funds for promotion in South Africa and on a host of related legal and regulatory matters
  • 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.
  • 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.
  • Advised Saxo Capital Markets on a proposed introducing broker agreement with Sasfin Securities (Pty) Ltd.
  • Advised Liquidnet Europe Limited on a brokerage agreement with Avior Capital Markets Pty Ltd.
  • Advised Eskom Pension and Provident Fund on investment in Abraaj Africa Fund III, L.P, a Cayman Islands exempted limited partnership.
  • Advised Public Investment Corporation (SOC) Limited, acting on behalf of the Government Employees Pension Fund, on investment in Kleoss Fund I, an en commandite partnership governed by the laws of South Africa and a closed-ended private equity fund focusing on middle market capitalisation companies throughout South Africa.
  • Advised Saxo Bank A/S and Saxo Capital Markets UK Limited on securities and exchange control matters.
  • Advised Link Investor Services Proprietary Limited in relation to the treatment of clients’ unclaimed funds held by its registered nominee.
  • Advised Capitec Bank Limited in relation to its acquisition of Mercantile Bank Limited’s business, from a regulatory perspective.

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