Exceeding the R1m threshold without registering could have serious consequences for businesses. SARS is stepping up enforcement, with a wave of cases landing in the Specialised Commercial Crimes Court.
Credit providers must quantify their reasonable enforcement costs promptly to allow for an agreement to be reinstated.
The updated guidelines focus on investor protection, derivatives usage, and strict reporting measures.
The FSCA highlights the role of RMCPs in safeguarding financial institutions and the financial system after compliance breaches by two FSPs.
The Tribunal’s ruling highlights that following the correct process is as important as addressing misconduct in the financial services sector.
The case illustrates how discrepancies in disclosure can undermine an individual’s suitability for a key role, resulting in the rejection of a licence application.
A longer annexure of employers who have cleared their arrears or arranged to do so signals the effectiveness of the Authority’s ‘name and shame’ campaign.
The High Court rules on a former employee’s contention that the FSP’s notice of intention to debar was a breach of their settlement agreement.
The Appeal Board dismisses an FSP’s argument that its close ties with its sole shareholder reduced the need for comprehensive due diligence.
The proposal is for hedge funds to be subject to a different tax regime, potentially removing the ‘revenue versus capital distinction’ that causes tax uncertainty.
Starting 30 April 2025, CASPs and FSPs will have to collect and share detailed client information when engaging in crypto transfers.
A couple who were victims of business email compromise argued that FICA imposed a private law duty on Nedbank to protect them from financial harm.
The firm of attorneys said its non-compliance was not intentional and was the result of a lack of awareness.
Half of corporate taxpayers in PwC’s latest survey express dissatisfaction with SARS’s service improvements. Only 3% report a positive shift, while audit delays and penalty disputes remain a major pain point.
The Tribunal’s decision underscores that financial advisers’ duties are limited to the specific terms of their engagement.
The Authority gives crypto asset service providers a seven-month reprieve.
Inputs provided during workshops in 2025 will guide the formulation of ‘a pragmatic and balanced approach’ to the regulation and supervision of funeral insurance.
