Compliance - Regulatory / General

Clawing back from #FATF is no cakewalk

The cup-half-full crowd who believe that South Africa will somehow follow in Mauritius’ footsteps and get an almost immediate grey list ‘pardon’ from the global Financial Action Task Force (FATF) are in for a shock. Yes, it is early days; but this writer gets the sense that the Financial Intelligence Centre (FIC), Financial Sector Conduct Authority (FSCA) and National Treasury (NT) will have a hard time convincing the FATF of progress in the context of a government that welcomes Russia with open arms, while making continued, veiled threats to terminate the country’s International Criminal Court (ICC) membership, among many other governance fumbles.

‘Accountable institutions’ under FICA are learning their new obligations

Large numbers of businesses are having to gear themselves up to become ‘accountable institutions’ under last year’s amendments to the Financial Intelligence Centre Act (FICA).

Amendments to the Trust Property Control Act, 57 of 1988

On the regulatory front… prepare for what’s to come

In 2022, we saw a steady flow of regulatory changes to the insurance sector. What can we expect in 2023?