As South Africa moves into its short period of chill we like to call “winter”, the various regulators are keen to keep us busy! Busy people are always warm, so we recommend you get a head start on the legislative and economic activity noted this month. Draft national AI policy The Department of Communications and…
If it feels like the regulatory environment has hit “cruise control” in 2026, it’s only because the speed keeps increasing. From the long-awaited progress of the COFI Bill to ever more detailed guidance from the Financial Intelligence Centre, there’s certainly no shortage of developments competing for attention. And just when it seems like frameworks are…
It’s that time of year in South Africa; no, not autumn – it’s school sports festival time! You might only see us again in May… However, our regulators have decided to keep us pretty busy with various draft changes to legislation – clearly they’re not sports fans. From changes in the anti-money laundering frameworks to…
We’re well and truly into 2026 and it’s proving to be an “interesting” year in the financial services industry given the shifting global economic landscape and South Africa’s small role in it (lest our politicians forget their very minor relevance on that scale). As usual, we have summarised the events and legislation we think are…
It looks like December was all “fine” in the wrong sense as the FSCA took serious action against entities and individuals. While progress may not always be immediately visible, bringing criminals to book requires methodical and careful work. THE FINANCIAL SECTOR CONDUCT AUTHORITY (FSCA) FSCA imposes record penalties and debarments on Banxso and key individuals…
As usual we’ve combined the November and December Legislative Updates to give you a bit more to read, but more time to get everything finished for the year. It’s time for that well-deserved break you’ve been promising yourself! If we’ve learned one thing this year, it’s that no-one really knows what “six – seven!” means……
“Busy, busy, busy” – that’s the regulators as we close out the year. We are already drawing up the “To do” list for 2026! FINANCIAL INTELLIGENCE CENTRE (FIC) South Africa removed from FATF grey list: A milestone in financial crime reform The FIC has announced South Africa’s removal from the Financial Action Task Force (FATF)…
2025 is winding down, and everyone is starting to focus on the final stretch to December and their holiday plans. The year is not over yet, and we are always given some interesting reading or development by the regulators in the last few months of the year. We can expect the FIC to be very…
As August draws to a close, we’re reminded of former British Prime Minister Harold Macmillan’s 1960 address to the South African Parliament, not only because of the blustery seasonal winds, but also his famous words: “The winds of change are blowing.” The inevitability of upcoming legislative shifts is becoming increasingly clear, as is the regulators’…
As the regulators continue their inevitable move to the enactment of the Conduct of Financial Institutions (COFI) Bill, we see the implementation of their ‘harmonisation’ plan – including some interesting queries to get their database up to date. There’s plenty to keep us busy until then, and we’ve noted current updates for this month. Read…