The SARB has forfeited to the state cash totalling R42m from Berdine Odendaal’s bank accounts, as well as her R18m property in Paarl’s Val de Vie estate.
Read more
Non-compliance with FICA – Failure to implement proper processes leads to fine The Prudential Authority (PA) has imposed administrative sanctions on the Johannesburg branch of HSBC Bank for non-compliance with aspects of the […]
If there was ever any doubt about just how serious the world is about money laundering and related crimes, this was dispelled by the recent example of Australia’s Commonwealth Bank agreeing to a […]
The Financial Sector Conduct Authority (FSCA) has just published a general communication to Accountable Institutions (AIs) on its supervisory approach to implementation of the Amendments to the Financial Intelligence Centre Act, 2001 (FICA). […]
At the March 2018 FSB FAIS Conference, Ms Felicity Mabaso reported back on the Supervision Department’s activities in 2017 and 2018, and provided insights into its plans for 2018/2019. FSB Theme Visits: 2017/2018 […]
FAIS Newsletter 25 from the FSB is dedicated to the Financial Intelligence Centre Act and, more specifically, to substantial changes which came into effect in June and October. The amendments are designed to […]
In the financial services industry in South Africa, the only certainty is change. A number of regulatory changes with significant impact on the industry are in the pipeline. Moonstone Compliance is pleased to […]
Talks are currently underway to increase the obligations of the Short-term industry in respect of the Financial Intelligence Centre Act (FICA). The Financial Intelligence Centre (FIC) is the body responsible for identifying the […]
Motor dealers are reminded that if they receive a cash payment from a customer of more than R24 999,99 – and here cash means coins, banknotes or travellers cheques – that this must be […]
Friday’s edition of Legalbrief Today contained an excerpt from an article in the Mercury on continued resistance to the Financial Intelligence Centre Amendment (Fica) Bill becoming law. Those against it threatened to take […]
The following topics will be discussed in more detail: The impact of the Financial Sector Regulation Bill on your business The FSR (Twin Peaks) Bill will change your regulatory landscape and your Regulator. […]
I recently spoke to a broker in the North-West Province who only conducts short-term business, but is also licenced for several other categories. This is quite common – many of those who applied […]
The Financial Intelligence Centre published Public Compliance Communication (PCC) 29 to provide guidance on the application of Exemption 4 of the FIC Act which provides for the reliance by one accountable institution (the […]
There are a wide variety of compliance service providers in the financial services industry, which makes it difficult to compare apples with apples. We list below the services offered by Moonstone, and a […]
