JIBAR transition enters legislative phase
A Bill before Parliament would give the SARB a statutory mechanism to address legacy contracts that still reference JIBAR when the benchmark ceases at the end of 2026.
#FinancialSectorRegulationAct
Wrong email address leaves FSP unable to pursue debarment
The Tribunal found that proceedings had not commenced before the six-month deadline, preventing it from sending the matter back for reconsideration.
FSCA withdraws My Wealth Dias penalty and Coetzee debarment
The regulator will refer Banks Act findings to the Prudential Authority and reconsider action against Charl Coetzee in light of additional information.
UPDATED | FSCA details basis for debarments of Africa Bitcoin officers
The regulator says its investigation into September 2022 share transactions found contraventions of the Financial Markets Act.
Treasury holds largely firm on AML Bill after public submissions
Two limited FICA changes were indicated, while the FSCA explained why the financial-sector provisions would not be amended.
Proposed beneficial owner rules bring fresh scrutiny for financial institutions
Institutions will have to identify and verify owners, assess their honesty and integrity at least every two years, and report beneficial-owner information to regulators.
PA proposes higher levies despite budget reduction
The provisional 3.7% increase is based on projected inflation for 2027 and will be revised using the applicable Stats SA CPI measure.
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.
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.
