by Dr. Andrew D. Schmulow Competition and Consumer Law Journal, Vol. 24, no. 3, 2016. This article provides a statement and an analysis of South Africa’s statutory provisions aimed at curbing reckless lending, and preventing predatory lending, to financial consumers. The focus of the article is on the statutory mechanisms for combatting reckless and predatory […]
by Dr. Andrew D. Schmulow African Journal of International and Comparative Law, Vol. 25, no. 3, 2017, pp: 393-417. This article examines the implementation of the Twin Peaks model of financial system regulation in South Africa, the purpose of which is to create a financial system stability regulator, and a financial system consumer protection and […]
by Dr. Andrew D. Schmulow Law and Financial Markets Review, Vol. 11, no. 4, 2018, pp: 163-173. This article examines retail market regulatory reforms currently underway, as part of the implementation of a Twin Peaks regulatory model in South Africa. A brief account is provided of the history of these reforms, followed by an analysis […]
by Dr. Andrew D. Schmulow International Review of Financial Consumers, Vol. 3, no. 1, 2018, pp: 1-14. Australia is in the midst of a financial regulatory crisis. Evidence of malpractice, fraud, criminality, contempt for the law, and the abuse of consumers on an industrial scale, all while Australia’s Twin Peaks regulators looked on, has come […]
by Dr. Andrew D. Schmulow, Dr. Karen Fairweather and Prof. John Tarrant Law and Financial Markets Review, Vol. 12, no. 4, 2018, pp: 193-202. In November 2017 the Federal government established a Royal Commission into Australia’s financial services industry that has become widely known as the Banking Royal Commission. The Commission has, during its hearings, […]
by Dr. Andrew D. Schmulow, Tanya Ann Woker and Prof. Corlia van Heerden Journal of Business Law, Vol. 2019, no. 2, 2018, pp: 122-139. This paper provides an analysis of South Africa’s statutory provisions aimed at preventing reckless and predatory lending to consumers. The focus of the paper is on the statutory mechanisms for combatting […]
by Dr. Andrew D. Schmulow, Dr. Karen Fairweather and Prof. John Tarrant Federal Law Review, Vol. 47, no. 1, 2019, pp: 91-120. Consumer financial protection and the integrity of the Australian financial system are critical to the Australian economy in many ways, including the provision of an effective banking system, and the security of Australia’s […]
by Dr. Andrew D. Schmulow Journal of Banking and Finance Law and Practice, Vol. 26, no. 3, 2015, pp: 151-172. This article provides a description of the four methods of financial systemregulation currently in use internationally, with case studies illustrating each system. Analysis is provided of the strengths and weaknesses of each. Research indicates that […]
ASIC’s Loss to Westpac is Terrible for Everyone Last month, an Australian Federal Court ruled against ASIC (Australian Securities and Investments Commission) in its responsible lending case against Westpac Bank, where the bank was alleged to have improperly assessed whether loans granted between 2011 and 2015 were suitable for customers. In a 29 June article, AFR columnist Karen Maley […]