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Ashlin Perumall

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Ashlin Perumall is a Partner in Baker McKenzie's Corporate and M&A Practice Group in Johannesburg. He has acted for local and multinational companies in a wide range of corporate matters. Ashlin specializes in technology-driven M&A and the corporate, commercial and transactional aspects of intellectual property. Ashlin is currently serving as a Baker McKenzie Fellow to the World Economic Forum's Centre for the Fourth Industrial Revolution in San Francisco as part of the Firm's partnership with the forum to address global, regional, and industry policy issues in respect of 4IR technologies.

The Financial Sector Conduct Authority (FSCA) in South Africa has issued a notice to request information relating to ownership from certain financial institutions in South Africa. The required information must be submitted online by 30 September 2022, and failure to do so will constitute an offense.

The speed and volume of change in the crypto asset markets has accelerated across the globe, with established financial institutions increasingly entering the sector whilst regulators look to keep pace. Recent high-profile developments and market volatility have led to growing calls for scrutiny and regulatory controls. Navigating this fast paced environment, within a sometimes disjointed regulatory framework, can be challenging.
This virtual seminar series will provide insights on how the regulatory landscape is changing and discuss the future of crypto within the financial services sector. Set out below are details of our 2022 series.

In the latest episode in the series, Episode 27: Fintech in South Africa and the Sub-Saharan African Region, Ashlin Perumall, a partner from our Corporate and M&A practice in Johannesburg and Sarah Williams, an associate from our financial services practice in London, discuss the fintech landscape in South Africa and other key markets in Sub-Saharan Africa. They take a closer look at investment drivers and opportunities, current and emerging market segments, and key commercial and regulatory developments affecting the fintech ecosystem in the region.

The South African Reserve Bank has recently issued a directive concerning issuing and acquiring domestic card transactions. The Directive introduces regulations for all card issuers, card acquirers and domestic merchants regarding card issuing, acquiring and acceptance services for domestic card transactions. The Directive aims to ensure that the provision of domestic card payment services does not endanger the National Payment System, and for this reason, the SARB requires domestic card issuers to be domestic clearing system participants and requires that domestic merchants use local card acquirers.

Investors in Africa face an increasingly complex business environment, with numerous geopolitical and economic risks to consider, as well as having to comply with varying legal requirements across the continent. There is no denying that doing business in Africa in the current economic and political climate is difficult, and this…