EXPLAINER: How did South Africa end up on the grey list?
What you should know about the Financial Action Task Force, its evaluation of South Africa, and how grey-listing works.
Financial Action Task Force
This is what Sars is doing to tighten its supervision of trusts
It also wants to address the inconsistent treatment of non-resident beneficiaries when capital gains are distributed.
Time is running out for new accountable institutions to register with the FIC
The amendments to Schedule 1 of Fica mean more individuals and businesses have, by definition, become accountable institutions.
Latest Fica amendments: 5 key takeaways for accountable institutions
New requirements include the identification of ultimate beneficial owners and beefed-up risk management and compliance programmes.
When the new anti-money laundering provisions take effect
Proclamation Notice sets the commencement dates for the sections that amend five Acts of Parliament.
SA’s bid to avert being grey-listed: what happens next?
National Treasury-led delegation will have a face-to-face meeting with the Financial Action Task Force
Anti-grey-listing laws get through Parliament just in time
But amending legislation won’t be enough to satisfy the Financial Action Task Force.
Will your business be an accountable institution from 19 December?
Stringent compliance obligations await if it is, but there’ll be a transitional period for new sectors.
Omnibus anti-money laundering bill almost there
Opposition parties criticise rushed process and impact on NGOs.
Why South Africa provides a fertile ground for funders of terrorism
The deficiencies in dealing with terrorism financing are putting the country at risk of being grey-listed.
MPs decline to process omnibus anti-grey-listing bill
Minister of Finance asked to explain the absence of an assessment of the socio-economic impact of the General Laws Amendment Bill.
National Council of Provinces finalises amendments to Fica schedules
No carve-out to accommodate clothing retailers’ concerns about exclusion or compliance costs
Fisa makes urgent submission to Parliament on ‘beneficial ownership’ relating to trusts
It says the amendment bill imports a foreign concept that is in conflict with South African trust and property law.
Grey-listing: what are the implications for the financial sector and the greater economy?
It will become increasingly difficult to invest offshore, even for the wealthiest investors, says Anchor Capital.
Why the FSCA brought crypto assets within the regulatory net
Not much can be done to protect people who fall for get-rich-quick schemes
SA still has a chance of avoiding grey-listing, says Momoniat
‘Significant and real progress’ is being made in meeting the Financial Action Task Force’s requirements.
Did grey-listing threat hasten Sarb to act against Markus Jooste?
The South African Reserve Bank (Sarb) this week moved to attach more than R1.4 billion in assets linked to former Steinhoff chief executive Markus Jooste, five years after it told Parliament it was […]
