Desiree Reddy

Norton Rose Fulbright South Africa Inc

South Africa
T:+27 11 685 8673
South Africa
T:+27 11 685 8673
Desiree Reddy

Desiree Reddy



Desiree is a banking lawyer based in Johannesburg. Desiree forms part of our banking and finance practice, and specialises in regulatory compliance.  Having worked in both the banking and financial services sectors, she has extensive experience in advising both domestic and international financial service providers relative to corporate, regulatory and exchange control matters.

Desiree graduated with a LLB degree from the University of Natal in Durban in 2003, and was admitted as an attorney in September 2005. She also holds master’s degree in Commercial law from the University of the Witwatersrand, and a postgraduate diploma in Compliance Management (Cum Laude) from the University of Johannesburg.

Desiree leads the South African FinTech practice and is a key member of the global FinTech team. She has developed a particular knowledge of blockchain, central bank digital currencies and cryptocurrencies, and advises start-ups and financial institutions on the deployment of these technologies.



Professional experience

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  • Re Assisting Granite Central Securities Depository (Pty) Ltd (Granite) with an application for a Central Securities Depository license, in terms of section 27 of the Financial Markets Act, 2012.   The CSD license application is only the second of its kind to be issued in South Africa

  • Advising a leading European clearing house on the recognition process for external clearing houses in South Africa, in an effort to establish a South African clearing solution

  • Advising and assisting Mizuho Bank with the establishment of a South African representative office, including preparation and submission of a license application in terms of section 34 of the Banks Act, 1990, and interaction with the regulator

  • Regulatory advice and assistance with the purchase of shares by Barclays Bank plc in Absa Bank, and the drafting and submission of relevant applications to the South African Reserve Bank

  • Assisting with the drafting of the annual ISDA collateral opinion, and the drafting of bespoke capacity and enforceability opinions for amongst others, collective investment schemes, pension funds and the South African Reserve Bank

  • Preparation and submission of various license applications in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS), including advising clients in respect of their FAIS obligations and interaction with the Financial Services Board

  • Preparation and submission of an exchange control application for the recognition of an international headquarter company, in light of the new headquarter company dispensation in the exchange control rulings

  • Establishment of a regulatory compliance framework for the National Regulator for Compulsory Specifications, upon being awarded the tender for the exercise

  • Assisting National Treasury with a legal review of the barriers to the sharing of customer information between the banking and telecommunications industries in order to combat electronic crime. This exercise included the drafting of recommendations for possible changes to legislation and encompassed privacy, regulatory, constitutional, procedural and criminal law aspects to the review as well as technical knowledge as to how these crimes are being committed

  • Regulatory compliance measures in the financial sector, including financial markets regulation and licensing

  • Exchange Control implications and applications with respect to financing transactions, acquisitions, and restructuring

  • International Swaps and Derivatives Association, Inc Collateral and capacity opinions on the ISDA Master Agreement

  • Basel III requirements and the regulations issued in terms of the Banks Act, 1990

  • Data protection.