Parliament hits pause on urgent JIBAR transition Bill
The invalidation of the Public Procurement Act has left lawmakers weighing whether removing part of the amendment Bill would require further public participation.
FSRA
AML Bill: Committee completes clause-by-clause deliberations
The wording of several provisions has been refined, but procurement-related drafting and the response to concerns raised by the NPO sector remain outstanding.
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.
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.
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.
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.
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.
