Godongwana defends the banks’ right to close accounts
Financial institutions will participate in evaluating improvements to Conduct Standard 3 of 2020, aligning these efforts with the COFI Bill.
Author: Moonstone Information Refinery
Retirement fund trustees face personal liability for cybersecurity non-compliance
With the Joint Standard on Cybersecurity and Cyber Resilience set to take effect in June, trustees could be held personally liable for losses due to data breaches.
AI in legal research under scrutiny after fake case citations
The Legal Practice Council has been asked to investigate a law firm’s reliance on potentially fabricated case law references, possibly generated by artificial intelligence.
DBE to publish matric results amid R5 million fine for privacy breach
The Department of Basic Education is at risk of a R5 million fine for violating privacy laws, with ongoing debates over student consent and personal information protection.
South Africa’s global minimum tax: a game-changer for corporate taxation
The Global Minimum Tax Act aims to level the playing field for multinationals while potentially adding R8 billion to South Africa’s tax base by 2027.
Top achievers share insights on excelling in short-term insurance qualification
Top achievers in the Higher Certificate in Short-Term Insurance (HCSTI) qualification exams, credit the qualification with deepening their industry knowledge and advancing their careers.
Social media scam peddles fake RE5 exam certificates at a discount
Fraudulent RE5 exam certificates were recently advertised on Facebook, sparking a public warning from the FSCA about regulatory exam fraud.
Compensation Fund vs Netcare: High Court judgment exposes deep fault lines
The battle over the alleged dysfunctionality of the Compensation Fund’s CompEasy system raises urgent questions about policy, functionality, and fairness.
Court orders scorned lover and his wife to pay R3.5m for revenge porn
A recent court ruling on a revenge porn case highlights the complex intersection of cybercrime, defamation, and privacy laws.
How the dispute between the RAF and Discovery unfolded
Discovery Health’s quest for reimbursement from the RAF for medical expenses incurred by road accident victims has faced multiple legal hurdles, with new RAF directives complicating the situation.
Key regulatory and compliance developments: looking back at 2024 and what’s ahead in 2025
Billy Seyffert unpacks 2024’s major compliance changes, from the two-pot retirement system to cybersecurity standards, offering practical advice to stay ahead in 2025.
Bill proposes wide-ranging changes to strengthen AML regime
The amendments to the Companies Act, FICA, and the Financial Sector Regulation Act are designed to close regulatory gaps and enhance enforcement.
Treasury publishes draft amendments to two-pot legislation
The Bill provides for flexibility when provident and provident preservation funds perform the seeding calculation.
Incidental credit providers excluded from FICA registration
The revised draft of PCC 23A brings further clarity to the interpretation of credit providers under the Financial Intelligence Centre Act.
FSCA slaps R2.1m fine and 20-year ban on unauthorised forex operator
An investigation found that Greyshore Investments solicited deposits while promising to trade on behalf of investors, without the necessary authorisation.
Nedbank’s fuel rewards advert is misleading, says ARB
A client complained that she couldn’t earn Greenbacks rewards at a BP filling station because it does not accept American Express cards.
SA’s corporate tax base rests on a few large companies
More than 3.6 million companies were registered with SARS, and only 0.1% of them contributed 72.3% of corporate income tax revenue in 2022.
