Crypto transfers: new client information requirements coming for CASPs and intermediaries

The ‘travel rule’ means CASPs and FSPs cannot initiate a crypto asset transfer unless they can transmit prescribed information.

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.

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 […]

Momoniat: We don’t know who dropped the ball with state capture transactions

National Treasury’s acting director-general, Ismail Momoniat, says mechanisms need to be put in place to ensure that the regulators are doing their job in respect of suspicious financial transactions, noting that Treasury does […]

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 […]

Two-pot retirement system may take up to five years to implement

Ismail Momoniat, the acting director-general of National Treasury, told the Pension Lawyers Association virtual conference in May that retirement reform is alive and well, although the various proposals still need to be consolidated. […]

Basic income grant or NHI will result in tax increases, says Treasury

Large permanent increases in government spending, such as for a basic income grant or National Health Insurance (NHI), will have to be met by a permanent increase in revenue, which will mean higher […]