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Anti-money laundering can never be a tick-box exercise

Anti-money laundering (AML) compliance should not merely be a tick-box exercise for financial institutions, as it not only exposes the organisation to the risk of hefty non-compliance penalties and reputational damages...

By Sumit Kumar Sharma 3 days ago

Digital company acquisitions to face closer scrutiny by competition authorities

The Competition Commissioner during the Commission's Annual Conference (in November 2020), noted that the Commission will take a "decisive and proactive stance to ensure the balance of economic forces favour a shift to facilitating entry and a more competitive digital economy"...

By Burton Phillips 1 Dec 2020

PoPIA, GDPR - or both?

Businesses that have taken steps to comply with the General Data Protection Regulation passed by the EU will also have to be compliant with South Africa's Protection of Personal Information Act by July 2021. Compliance with one does not ensure compliance with the other...

By Karl Blom and Ekene Nkado 30 Nov 2020

Tackling your B-BBEE in 2021 - 4 tips to doing more with less

Many companies were hoping for a B-BBEE break in 2020 as businesses and bottom lines struggled with the burden of Covid-19. Unfortunately, this was not to be the case - and nor will it be in 2021...

By Angie Lanham-Love 27 Nov 2020

Informal traders must be included in policy decisions, says alliance

The South African Informal Traders Alliance has highlighted its acute unhappiness about being excluded from critical policy decisions, laws and planning...

27 Nov 2020

Will Regulation 28 be amended to accommodate Sarb's announcement on ETFs?

On 29 October 2020, the South African Reserve Bank (Sarb) published an exchange control circular (Circular 15/2020) which in effect reclassifies all remaining foreign debt and derivative instruments as well as exchange traded funds (ETFs) referencing foreign assets, that are inward listed on a South African exchange and are traded and settled in rand, as domestic...

By Amina Yuda 26 Nov 2020

Selling your business as a going concern

Usually when a business is sold, it is a taxable supply that is subject to value added tax (VAT) at the standard rate of 15%. There is, however, a provision in the Value Added Tax Act 89 of 1991 (VAT Act), section 11(1)(e), which allows for the sale of a business at the rate of 0%, provided certain requirements are met...

By Graeme Palmer 25 Nov 2020

FSCA takes first steps in the regulation of crypto assets

On 20 November 2020, the FSCA issued a draft Declaration of crypto assets as a financial product (draft Declaration) under the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act)...

By Desiree Reddy 24 Nov 2020

Poorly implemented tech leads to enforcement investigations at 40% of global companies - report

A landmark survey of more than 1,500 compliance leaders around the world, including in Africa, has revealed major risks associated with digitalisation, with 41% of those surveyed admitting their organisation has already experienced enforcement investigations...

20 Nov 2020

Covid-19 and business interruption insurance

At the heart of the legendary city of New Orleans stands the four-star Windsor Court Hotel, welcoming guests with stunning views of the Mississippi river and city skyline. When the now infamous Category 5 hurricane, Katrina, hit in August 2005, it caused $125bn in damage...

By Marnus Fourie 20 Nov 2020

CIPC terminates temporary Covid-19 relaxation measures

The Companies and Intellectual Property Commission (CIPC) has announced that the temporary relaxation measures granted to companies during the national lockdown will lapse on 1 December 2020...

By Elodie Maume and Candice Meyer 19 Nov 2020

4 tips to starting a compliance function

When developing a compliance function from inception, a compliance officer can have paralysis from analysis, especially when there has not been a pre-existing compliance function...

By Ezra Pillay 18 Nov 2020

Construction contracts - managing risks during the Covid-19 pandemic

Earlier this year, we published an article discussing some of the key considerations for the construction industry during the global Covid-19 pandemic...

By Wihan Meintjes 6 Nov 2020

FCSA slaps Steinhoff's Jooste with R161m fine

The Financial Sector Conduct Authority (FCSA) has imposed a R161 million administrative penalty on former Steinhoff chief executive (CEO), Markus Johannes Jooste, for breaching sections of the Financial Markets Act...

2 Nov 2020

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