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.
Compliance and Legislation
No investor harm does not mean no compliance breach
The Tribunal finds that commercial circumstances did not justify implementing a major transaction before shareholder approval.
Proposed beneficial owner rules bring fresh scrutiny for financial institutions
Institutions will have to identify and verify owners, assess their honesty and integrity at least every two years, and report beneficial-owner information to regulators.
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.
Last chance to register: COFI readiness for small FSPs
Moonstone Compliance will explore what the FSCA’s changing supervisory approach means for smaller practices and how they can respond proportionately.
PA proposes higher levies despite budget reduction
The provisional 3.7% increase is based on projected inflation for 2027 and will be revised using the applicable Stats SA CPI measure.
Draft tax bills target spousal donations and VDP interest relief
Treasury wants to close what it sees as a tax-avoidance route involving emigrating spouses, while proposing a taxpayer-friendly change to voluntary disclosures.
Draft TLAB will settle living annuity commutation rule
The proposal puts SARS’s existing cumulative approach into the Income Tax Act, ending uncertainty over whether the R150 000 limit applies per policy.
OPFA proposes framework for exercising summons powers
The draft guidelines set out how witnesses may be called and material obtained during complaint investigations.
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.
Court and Tribunal rulings strengthen regulator’s enforcement hand
Key judgments clarified the FSCA’s ability to investigate misconduct, resist procedural delays, and pursue cross-border enforcement.
CFDs and trader misconduct move up FSCA’s market-abuse agenda
The regulator is scrutinising how derivative positions, suspicious trading, and failures by gatekeepers can undermine market integrity.
Draft regulations for electronic commissioning out for comment
The proposals recognise electronic signatures and prescribe how oaths may be administered through audio-visual communication.
Draft manual sets out proposed cross-border crypto regime
Early industry reaction focuses the implications for stablecoin payments and self-custody wallets, and the compliance burden.
FIC finalises Guidance Note 7B after industry feedback
The final Guidance Note makes targeted changes, but the regulator’s feedback discloses how it weighed industry concerns and refined key aspects of the guidance.
Tribunal upholds debarment over R1.1m ‘protection’ payments
The applicant’s own admissions supported Sanlam’s decision, and the section 14 process does not mirror a disciplinary hearing or a trial.
OPFA introduces dedicated form for section 13A complaints
Retirement funds are expected to submit fuller, better-documented complaints when pursuing employers over unpaid contributions and missing contribution schedules.
