UPDATED | FSCA details basis for debarments of Africa Bitcoin officers
The regulator says its investigation into September 2022 share transactions found contraventions of the Financial Markets Act.
Author: Mark Bechard
Treasury holds largely firm on AML Bill after public submissions
Two limited FICA changes were indicated, while the FSCA explained why the financial-sector provisions would not be amended.
Treasury’s proposed unclaimed-assets model revives central fund debate
The framework separates administration from custody and investment and introduces a possible time limit on owners’ and beneficiaries’ claims.
Regulation of Trusts Bill: Stronger powers and protections
The Bill would introduce additional safeguards for particular trust arrangements, strengthen the Master’s supervisory powers, and change the trust-termination process.
Fintech Kastelo weighs walking away from appealing blocking order
The FSP has paused its crypto-arbitrage service after the High Court upheld the SARB’s order, finding reasonable grounds to suspect exchange control contraventions.
Regulation of Trusts Bill: New duties and risks for trustees
The Bill would introduce annual reporting and accounting duties and establish a prudent-investor framework, while revising the beneficial-ownership obligations.
Law Society calls for safeguards as AML Bill expands regulatory powers
Its submission to Parliament highlights concerns about lifestyle audits, information sharing, beneficial ownership, and administrative fines.
After the headlines: where major FSCA enforcement cases stand
Steinhoff, Banxso, N-e-FG, and Viceroy show that imposing an administrative penalty is often only the beginning of a lengthy legal and recovery process.
CAM opens Citadel’s investment engine to independent advisers
IFAs can delegate functions including asset allocation, manager research, and portfolio construction while retaining responsibility for advice and client relationships.
Don’t let COFI ‘scare stories’ distract you from what’s really changing
‘Continuous disclosure’ offers a practical way to understand the framework’s broader shift towards customer outcomes, says Moonstone’s Billy Seyffert.
Law firm calls for banks to reimburse fraud victims
Trudie Broekmann Attorneys says South Africa should adopt a mandatory reimbursement framework that goes beyond the UK’s protections for payment scams.
High Court upholds medical schemes’ recovery powers
The ruling preserves a key anti-fraud tool that industry bodies say protects member funds and helps contain healthcare costs.
Latest FATF review puts South Africa under a harsher spotlight
Treasury says the country already has most of the rules it needs; the challenge now is proving that institutions are using them effectively.
Judgment adds to uncertainty over crypto’s exchange control status
The High Court backs the SARB’s position that moving Bitcoin to foreign exchanges can amount to an unlawful export of capital.
OneSure uses AI to tackle operational complexity across insurers
The brokerage says InsureBot assists with policy interpretation and comparisons, while accountability stays with authorised staff.
AI in financial advice: where investors draw the line
Morningstar’s behavioural study shows reactions hinge on the use case and on how advisers explain, govern, and remain accountable for AI-assisted work.
Referral fees and FAIS: when a lead becomes intermediation
The High Court’s decision shows how commission-style lead arrangements can be characterised as FAIS intermediary services, with enforceability consequences.
