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.
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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.
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.
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.
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.
Opposition MPs press FIC for answers on Phala Phala matter
The Centre said the law prevents it from confirming whether it has received, analysed, or shared information relating to specific cases or individuals.
MPs query FSCA processes in insurance exemption dispute
The Authority says the case highlights the need for a legislative framework that is more conducive to fostering transformation and incubation models.
Treasury pushes back against increasing taxes on higher-income earners
Deputy DG Christopher Axelson tells Parliament Treasury will prioritise improved revenue collection and closing loopholes rather than further rate increases.
Treasury urged to retain tax relief for manager-initiated unit trust transactions
ASISA says further consultation is needed to avoid negative consequences for investors and the collective investment schemes market.
Government opposes taking full ownership of the Reserve Bank
Treasury cautions that the forced acquisition of two million private SARB shares could breach bilateral treaties and unsettle investor confidence.
Ithala’s fate hangs in the balance amid legal battles and funding disputes
Ithala depositors remain locked out of their funds while disputes over frozen accounts, strategic alliances, and government guarantees deepen.
MPs push for deeper financial sector transformation
The Finance and the Trade and Industry committees will engage with roleplayers from across the sector before finalising a report that will be tabled in Parliament.
Major banks to explain lending practices to parliamentary committees
MPs also want to meet with the FSCA to discuss banking-relating issues, including credit policies, fees, and client confidentiality.
Enforcement is the Achilles’ heel in contribution compliance, says Adjudicator
The FSCA, National Treasury, and the Pension Funds Adjudicator tell MPs what they are doing to address the non-payment of retirement fund contributions. Regulatory interventions other than COFI may be in the offing.
R300m a year: the price tag of administering the two-pot system
The FSCA is evaluating whether administration fees are reasonable. If it believes they are not, it will explore whether it is necessary to cap or regulate fees.
