Grey-listing: what are the implications for the financial sector and the greater economy?
It will become increasingly difficult to invest offshore, even for the wealthiest investors, says Anchor Capital.
#greylisting
SA still has a chance of avoiding grey-listing, says Momoniat
‘Significant and real progress’ is being made in meeting the Financial Action Task Force’s requirements.
Finance committee chairperson takes aim at Intellidex report ‘canvassing’ for SA to be grey-listed
The chairperson of the National Assembly’s Standing Committee on Finance (Scof) this week sharply criticised “a section” of the business community for publishing a report suggesting there is an 85% probability that South […]
Research report advises South Africans to prepare for grey-listing
There is an 85% probability that South Africa will be grey-listed by the Financial Action Task Force (FATF) in February next year, mainly because institutions in the criminal justice system were undermined during […]
New deadline to comment on anti-grey-listing bill
The National Assembly’s Standing Committee on Finance (Scof) has extended to 25 October the deadline for submitting comments on the omnibus bill aimed at preventing South Africa’s grey-listing next year. On Tuesday, the […]
Time is against South Africa to avoid grey-listing
If South Africa does escape being grey-listed next year, it will be by the skin of our teeth. Time is not on the country’s side when one considers the work that must be […]
Non-profit organisations caught between a rock and a hard place
The Department of Social Security is not equipped to deal with the registration of every non-profit organisation (NPO) in the country, while the failure of NPOs to register will have dire consequences for […]
Trusts under the magnifying glass of local and international financial watchdogs
If a trust is not valid, the trustees can be held personally liable for any taxes related to the trust activities.
Grey-listing is unavoidable, says head of Financial Intelligence Centre
The country has failed to deal with corruption and state capture, Xolisile Khanyile tells newspaper.
Grey-listing will have ‘muted’ impact on SA’s banks, says S&P
South Africa’s possible grey-listing will have a “muted” impact on the country’s banking sector, although local banks might suffer some reputational risk and could face higher compliance costs, according to S&P Global Ratings. […]
The law – should it be applied or enforced?
In District Six, the musical, one of the songs asks: The law, the law, the law. What for? The answer comes from Kris Kristofersson: The law is for protection of the people. After […]
Averting grey-listing depends on progress with enforcement
National Treasury has reiterated its message that changing legislation will not be enough to avert a potential grey-listing next year; the authorities will have to demonstrate commitment and progress with enforcing legislation aimed […]
Treasury publishes omnibus anti-money laundering bill
The process to address deficiencies in the country’s anti-money laundering and anti-terrorism financing legislation got under way this week after Minister of Finance Enoch Godongwana tabled the General Laws (Anti-Money Laundering and Combating […]
Omnibus bill to beef up SA’s anti-money laundering measures
Minister of Finance Enoch Godongwana has published an explanatory summary of a bill that will amend five Acts of Parliament as the government moves to beef up the country’s anti-money laundering and counter […]
Nedbank: Fica non-compliance was due to delays in promulgating amendments
Nedbank has blamed delays in the promulgation of amendments to the Financial Intelligence Centre Act (Fica) for the effective fine of R20 million and other administrative sanctions imposed by the Prudential Authority (PA) […]
Too soon to panic about grey-listing?
Is it a “done deal” that South Africa will be placed on the Financial Action Task Force’s grey list next year? There are those who think it is, and therefore advisers should engage […]
