by cruxadmin | Feb 24, 2025 | Blog
From CompliNEWS | Financial Service Intelligence Watch FSTC issues Reporting Notice 2 of 2024: Financial sector entities required to submit B-BBEE compliance reports The Financial Sector Transformation Council (FSTC) has released Reporting Notice 2 of 2024, setting...
by cruxadmin | Feb 24, 2025 | Blog
From CompliNEWS | Financial Service Intelligence Watch FICA – Comparison of GN 7 Chapter 4 vs GN 7A (its replacement) By James George 1. Scope and Coverage GN 7 Chapter 4 – Focused solely on the Risk Management and Compliance Programme (RMCP) under section 42 of...
by cruxadmin | Feb 24, 2025 | Blog
From CompliNEWS | Financial Service Intelligence Watch COFI Bill set for Parliament this year – Treasury The long-awaited Conduct of Financial Institutions (COFI) Bill is nearing its next legislative step, with its final draft awaiting certification before...
by cruxadmin | Jan 22, 2025 | Blog
From CompliNEWS | Financial Service Intelligence Watch Regulatory exams: Preparation guides updated for 2025 The FSCA has updated its Regulatory Examinations Preparation Guides for RE1, RE3, RE4, and RE5 as of 14 January 2025. These guides provide comprehensive...
by cruxadmin | Jan 22, 2025 | Blog
From CompliNEWS | Financial Service Intelligence Watch R Jeewan v Fairbairn Consult (Pty) Ltd (debarment for failing to meet the ‘fit and proper’ standards) Financial Services Tribunal (‘FST’ or ‘Tribunal’) Parties: R Jeewan v...
by cruxadmin | Jan 22, 2025 | Blog
From CompliNEWS | Financial Service Intelligence Watch Key updates on the Companies Amendment Acts effective 1 January 2025 As of 1 January 2025, several provisions of the 2024 Companies Amendment Act and the Companies Second Amendment Act have officially come into...
by cruxadmin | Jan 22, 2025 | Blog
From CompliNEWS | Financial Service Intelligence Watch Heavy penalties for FIC non-compliance Non-financial businesses and professional firms could face stiff penalties if they neglect to submit risk and compliance returns to the Financial Intelligence Centre (FIC)....
by cruxadmin | Jan 22, 2025 | Blog
From CompliNEWS | Financial Service Intelligence Watch Guidance Note: Draft General Laws (AML/CTF) Amendment Bill, 2024 The National Treasury has recently published the Draft General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill, 2024,...
by cruxadmin | Jan 22, 2025 | Blog
From CompliNEWS | Financial Service Intelligence Watch Capitec Bank fined R56.25 million by SARB for FIC Act non-compliance The South African Reserve Bank (SARB), through its Prudential Authority (PA), has imposed administrative sanctions on Capitec Bank Limited,...
by cruxadmin | Jan 22, 2025 | Blog
From CompliNEWS | Financial Service Intelligence Watch Building personal and business resilience By Lee Rossini In a myriad of ways, 2025 promises to be a tumultuous year. To manage the many challenges coming down the track, it is essential to build both personal and...
