ConCourt judgment in Capitec vs SARS clarifies important VAT principles

The decision addresses the recovery of VAT on payments made under loan cover provided free of charge.

FSCA welcomes decision to uphold revised R20m fine on Markus Jooste

‘Conduct of this kind undermines public confidence in financial markets and leads the general public to believe that the system is rigged and unfair,’ Tribunal says.

‘Raft of financial sector legislation coming in the next 3 to 5 years’

FSCA wants to step up market surveillance to combat insider trading and price manipulation.

FSCA clarifies which trading activities require a licence

The declaration of crypto assets as a financial product does not affect financial services rendered in relation to crypto asset derivatives.

FSCA has applied to the High Court to overturn tribunal’s Viceroy decision

The penalties imposed by the Authority on Viceroy and Markus Jooste came to R211 million.

FSCA finally pulls the plug on alternative stock exchange

Following ‘prolonged non-compliance’ with the liquidity and capital adequacy requirements.

FSCA fines Globex for unauthorised ODP activities

The contraventions were a result of a misinterpretation of the legal position.

Regulators are turning up the heat on Markus Jooste

JSE imposes fines totalling R15 million and bars Steinhoff’s former chief executive from holding office as a director.

FSCA has another go at fining Markus Jooste

This is a year after the Financial Services Tribunal set aside the Authority’s penalty of almost R162 million.

Trustco takes the JSE to the tribunal for a second time

Meanwhile, the High Court dismisses Trustco’s bid to have the FST’s November 2021 decision reviewed and set aside.

Tribunal rules on Viceroy’s application against R50m penalty for Capitec report

Can the FSCA fine persons not domiciled within the jurisdiction of South Africa’s courts?

FSCA investigating two entities for ‘unauthorised’ OTC derivative trading

The FSCA says it is investigating Nirvesh Financial Services (Pty) Ltd and Veracity Markets (Pty) Ltd for allegedly conducting unauthorised over-the-counter (OTC) derivative business and for possible breaches of other financial sector laws. […]

Licensing requirements for trading in derivatives, including CFDs

Having a FAIS licence does not mean that a trading platform can issue over-the-counter (OTC) derivatives, including contracts for difference (CFDs), as principal in South Africa. To do this, the entity must have […]

Tribunal overturns Markus Jooste’s R162m fine

The Financial Services Tribunal has ordered the FSCA to come up with an “appropriate” administrative penalty on Markus Jooste after it set aside the fine of nearly R162 million the regulator imposed on […]

FSCA reacts to overturning of JP Markets liquidation order

The FSCA says it will abide by the Supreme Court of Appeal (SCA) ruling that the Gauteng Division of the High Court erred in September when it ordered the final liquidation of trading […]

FSCA versus Viceroy – Round number 0ne

The FSCA publicly announced its enforcement order against Viceroy on 8 September, but it told journalists that it had informed Viceroy of its decision the previous week, which meant the clock had already […]