The decision by the Financial Action Task Force (FATF) to remove South Africa from its 'grey list' of jurisdictions under increased monitoring is a marked turnaround for a country once widely criticised for turning a blind eye to money-laundering and terrorist-finance risks, reports Compli-Serve. The move has been broadly welcomed ...
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By James George, Compli-Serve
The Financial Action Task Force (FATF)’s decision to remove South Africa from its grey list represents more than an administrative milestone – it’s a defining moment for the country’s financial integrity framework and its global reputation. While the news has been met with justified relief ...
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In professional services, a single allegation of negligence can have serious financial and reputational consequences. Early reporting of potential incidents under Professional Indemnity (PI) or medical malpractice cover is critical to protecting both the professional and the policy.
Because most PI policies operate on a claims-made basis, late reporting can ...
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By Lee Rossini
With the Conduct of Financial Institutions Act (COFI Act) expected to take effect in South Africa in 2026, followed by a transitional phase of roughly three years, financial services businesses should start preparing now. The Act represents a major change in how market conduct is regulated, aiming to create a unified, principles-based framework focused on fair client outcomes. Early preparation will help institutions adapt smoothly and position themselves competitively. Here are some guidelines:
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