Crypto transfers: new client information requirements coming for CASPs and intermediaries

The ‘travel rule’ means CASPs and FSPs cannot initiate a crypto asset transfer unless they can transmit prescribed information.

POPI Act – No more excuses

The legislation that aims to promote the protection of personal information processed by public and private bodies and seeks to balance the right to privacy against other rights, such as access to information, […]

Disaster Management Act Regulations – Alert level 4 during lockdown

The Government recently published the lockdown regulations under the Disaster Management Act. With regards to the Financial Services industry, Part h: Financial and Business Services states: 1. Employees should work from home where possible. […]

Pension Fund Act rules versus testamentary beneficiary nominations – Tribunal clarifies dispute

A member of a pension fund died without having nominated any beneficiaries. The trustees allocated the proceeds to his two daughters, but this was disputed by one of the nominees as beneficiaries under […]

PCC 46 – Guidance on the commencement and enforcement of the FIC Amendment Act

Last week, the Financial Intelligence Centre published Public Compliance Communication 46 (PCC 46), the result of all comments considered as submitted on draft PCC 109. PCC 46 now confirms the fact that all the […]

Financial Intelligence Centre Act – Accountable institutions to comply to all the obligations

The Financial Intelligence Centre (FIC) has published draft Public Compliance Communication no 109 (PCC 109). The objective of the communication is to provide clarity on the FIC’s position regarding the commencement and enforceability of […]

Financial Intelligence Centre Act – Accountable institutions to comply to all the obligations

NQF Amendment Act – More than just criminalising lying on CVs

According to the South African Qualifications Authority, there is more to the National Qualifications Framework (NQF) Amendment Act, No 12 of 2019 than just criminalising qualifications fraud and lying about qualifications on CVs. Signed […]

New National Credit Amendment Act – Study highlights negative impacts

Earlier this week, parliament’s Portfolio Committee on Trade and Industry was briefed on the new National Credit Amendment Act. As part of the briefing, parliament received a socio-economic impact assessment study (SEIAS) on […]

Debarred representatives – When can a rep be reappointed?

On 1 April 2018, the debarment process under the FAIS Act was amended by FSR Act 9 of 2017. Besides stipulating that an FSP must, before debarring a person, take specific steps, the […]