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’…