#greylisting – Page 2 – Moonstone Information Refinery

Video interview: New mutual insurer enters the market

‘The new process comes down to more detailed and targeted requests for information regarding exit capital.’

Incoming Nedbank chairperson says ‘we are already on borrowed time’.

An outbound money transfer may now take much longer than a week or two.

Provides guidelines on how to avoid being caught out.

Grey-listing reduces a country’s GDP growth by between 0.5% and 1.5%, says economist Iraj Abedian.

It’s too soon to tell how grey-listing will affect the industry, says Asisa.

National Treasury says it hopes to get South Africa off the list before January 2025.

Accountable institutions are expected to fulfil their compliance obligations

Proclamation Notice sets the commencement dates for the sections that amend five Acts of Parliament.

National Treasury-led delegation will have a face-to-face meeting with the Financial Action Task Force

Stringent compliance obligations await if it is, but there’ll be a transitional period for new sectors.

Opposition parties criticise rushed process and impact on NGOs.

Trust practitioners are not happy that Treasury ‘ignored’ their proposals to undo the ‘devasting effects’ of the legislation.

The deficiencies in dealing with terrorism financing are putting the country at risk of being grey-listed.

Minister of Finance asked to explain the absence of an assessment of the socio-economic impact of the General Laws Amendment Bill.

It says the amendment bill imports a foreign concept that is in conflict with South African trust and property law.