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.
#FinancialSectorRegulationAct
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.
Parliament calls for comment on AML/CFT reform Bill
Stakeholders have until 10 August to comment on proposed amendments aimed at strengthening South Africa’s financial crime framework.
Latest FATF review puts South Africa under a harsher spotlight
Treasury says the country already has most of the rules it needs; the challenge now is proving that institutions are using them effectively.
MPs query whether tougher AML laws are solving the problem
Treasury adviser Ismail Momoniat warns that police corruption and unfinished financial-crime cases could weigh on SA’s FATF assessment.
Tribunal clarifies limits on investor challenges to FSCA in curatorship case
The dismissal of a reconsideration application by CMM investors underscores that only direct legal rights – not indirect financial interests – confer standing under the FSRA.
Ombud Council issues new rules for Pension Funds Adjudicator
The framework formalises complaint-handling procedures, introduces mechanisms such as conciliation and summary dismissal, and will be implemented in phases.
New deadline to comment on draft AML/CFT Bill
The legislation will strengthen reporting and governance obligations across the non-profit, corporate, and financial sectors.
FSCA clears crowd-farming platform of unauthorised financial services
But the Authority fines Livestock Wealth and its CEO for displaying a partner FSP licence in a ‘misleading’ way.
Draft amendments aim to remedy gaps in AML framework
The Bill largely clarifies and strengthens existing AML/CFT expectations rather than introducing a new regulatory philosophy.
Draft AML/CFT amendment Bill tightens regulatory net
The Bill proposes that arrangements yielding outcomes similar to traditional financial products be treated as financial services.
Banxso licence withdrawal – FST dismisses reconsideration bid
The Tribunal dismisses separate applications brought by Banxso and four executives, saying they lack legal standing.
High Court blocks FSCA’s bid to supervise fund’s general meeting
The Court set aside two notices to the Municipal Employees Pension Fund after finding the regulator had not met the statutory thresholds.
Rulings define scope of PA’s powers under transitional insurance laws
The Tribunal and the High Court delivered key decisions emphasising proportional enforcement and the proper use of transitional provisions.
R12.6m fine, 15-year ban send strong warning on unauthorised insurance
The FSCA’s investigation concluded that South African Relocations and The Relocations Group offered marine insurance without registration.
Transitional delegations under the FSRA pushed to 2028/29
New end-dates extend the temporary allocation of certain supervisory duties to the FSCA and PA while regulatory frameworks are finalised.
Countdown to JIBAR cessation: SARB urges market to step up transition to ZARONIA
South Africa’s financial markets brace for the end of Jibar as SARB signals a major shift toward the more transparent, transaction-based ZARONIA benchmark.
