As of 1 January 2025, several provisions of the 2024 Companies Amendment Act and the Companies Second Amendment Act have officially come into effect, introducing significant changes to South African company law, writes Compli-Serve.

The Companies Second Amendment Act specifically extends the time bar for applications under section 162(2) of the ...

By Compli-Serve

The National Treasury and the South African Revenue Service (SARS) have released the 2025 Draft Revenue Laws Amendment Bill (2025 draft RLAB) for public comment. This proposed legislation addresses tax-related amendments, including resolving a starting date anomaly related to the two-pot retirement savings system and associated opt-in seed ...

Daily Investor reports that South Africa’s recently enacted Climate Change Act, signed into law by President Cyril Ramaphosa on 23 July 2024, aims to drive the nation toward a low-carbon, climate-resilient economy. However, business advocacy group Sakeliga has warned of the potentially disruptive impact of the legislation, which could pit ...

By Compli-Serve

On 19 December 2024, the National Treasury published the Draft General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill, 2024 (Draft Bill) for public comment. Among its proposed amendments, the Draft Bill introduces significant changes to the Companies Act, 2008, aiming to address deficiencies identified in the ...

North West High Court (Mahikeng)

Parties: Motswane v BMW Financial Services

Judgment: 6 January 2025

Keywords: Contract – signature – caveat subscriptor

Summary 
This is an appeal by Mr Motswane against a judgment of the Vryburg Magistrate's Court regarding an instalment sale agreement for a motor vehicle. BMW ...

Financial Services Tribunal ('FST' or 'the Tribunal') 

The following matter was handed down on 19 December 2024:

• WJ Oosthuizen and FundsatWork Umbrella Pension Fund, Momentum Metropolitan Life Ltd & the Deputy Pension Funds Adjudicator: case number PFA42/2024

Fast facts
Application for reconsideration of the decision of the PFA ...

Legalbrief Forensic

If you’ve been keeping an eye on the world of business rescue in SA, last week’s KZN High Court (Pietermaritzburg) judgment involving SARS and JBSA Props was a landmark case, writes Michael Avery in a Business Day analysis. But, Avery says, it's more than a wake-up call ...

Reuters reports that Zambia’s Securities and Exchange Commission (SEC) has imposed sanctions on Standard Chartered Bank for alleged mis-selling of bonds linked to Sino-Ocean, a Chinese property developer. The bonds, which defaulted in 2023, were issued to fund real estate projects in China but became high-risk investments due to a ...

The Financial Sector Conduct Authority (FSCA) has issued a warning to the public regarding CMFX Trading, a company soliciting investment funds while promising unrealistic returns. CMFX Trading claims to trade in Bitcoin on behalf of clients and guarantees profits, with offers such as R23 000 in returns from a R6 ...

A recent study by the Reserve Bank sheds light on the transformative potential of agency banking in deepening financial inclusion across South Africa. By analysing data from the 2015 and 2023 FinScope surveys and the 2021 Global Findex, researchers highlight the positive impact of agency banking on increasing access to ...

The Financial Sector Conduct Authority (FSCA) has issued a public warning against engaging in financial services with Gold Earnings Hub and Africa Gold Capital. These entities, known collectively as Gold Earnings and Africa Gold, are suspected of operating without the required authorisation and promoting investment schemes with unrealistically high returns ...

While enforcement actions often make headlines, the true champions of the compliance world are organisations that confront misconduct with transparency, learn from their mistakes, and enact meaningful reform, reports the ICA. These are the top compliance triumphs of 2024, according to Compliance Week, highlighting businesses that upheld ethical integrity and ...

Banks worldwide are signalling a strategic pivot, balancing cost optimisation with heightened focus on regulatory compliance and innovation to maintain competitiveness. Insights from the fourth edition of the Infosys Bank Tech Index reveal this shift, underscoring AI's growing prominence alongside cybersecurity as critical areas of focus. Recruiting AI talent ...

The question of backdating in legal and financial documentation is a complex issue, with significant implications for compliance, tax liability, and corporate governance. While there are legitimate scenarios where backdating may align with real events – such as preparing minutes for a meeting that actually occurred – intentional backdating to ...

By Compli-Serve

As we step into a new year, the Basel AML Index 2024 offers critical insights into the evolving risks of money laundering and associated financial crimes across 164 jurisdictions. Compiled by the Basel Institute on Governance, this independent ranking continues to serve as an indispensable resource for Anti-Money ...

The arrest of Johannesburg resident Ziyadh Hoorzook on 3 January 2025 has reignited concerns over South Africa's vulnerability to terrorism financing, reports Daily Maverick. Hoorzook, a 35-year-old accused of using Bitcoin to support terrorist activities, appeared before the Lichtenburg Magistrate’s Court on 10 January to apply for bail. He ...

Namibia recently hosted a Financial Action Task Force (FATF) joint group meeting in Windhoek, bringing together delegations from 11 African nations, FATF representatives, and international partners. The Namibian reports that the meeting focused on updates from African countries on their progress in addressing deficiencies that led to their inclusion on ...

By Compli-Serve

South Africa’s Financial Sector Conduct Authority (FSCA) issued close to 250 licences to Virtual Asset Service Providers (VASPs) in 2024, with over 50 applications still under consideration. This comes amid a surge in digital asset trading across local platforms, cementing South Africa's position as one of Africa’s ...

The European Union’s Markets in Crypto-Assets (MiCA) framework is now fully operational, bringing sweeping changes to how cryptocurrencies are regulated across the bloc, reports Crypto News. As investors and companies navigate this new landscape, understanding MiCA’s implications is essential.

On 30 December 2024, the EU introduced MiCA as a harmonised ...

As Bitcoin surges and institutional investors pour over $20 billion into crypto ETFs, the digital asset market is undergoing significant changes, reports Coin Desk. The appointment of Paul Atkins as SEC Chair, known for his market-friendly approach, has raised hopes for a regulatory environment that balances innovation with compliance.

However ...

Legalbrief Today

‘While Popia (the Protection of Personal Information Act) remains a vital tool for safeguarding individual rights, its implementation must be tempered with pragmatism and foresight. Striking the right balance between privacy and public interest is not merely a legal challenge but a societal imperative that requires ongoing dialogue ...

Over the past decade, the world of finance has experienced a profound transformation, reports London Daily News. Investments, traditionally focused on maximising profits with little consideration for their social or environmental impact, are now evolving toward a more holistic approach. Environmental, Social and Governance (ESG) investing has emerged as a ...

The European Union will unveil the Omnibus Simplification Package in February 2025 to streamline corporate sustainability reporting requirements under the EU Taxonomy Regulation, Corporate Sustainability Reporting Directive (CSRD), and Corporate Sustainability Due Diligence Directive (CSDDD). Announced by EU Commission President Ursula von der Leyen, the initiative seeks to enhance efficiency ...

As the Trump administration resumes leadership under its second term, the focus on Project 2025 has intensified, particularly its implications for Environmental, Social and Governance (ESG) policy. Project 2025, spearheaded by The Heritage Foundation, serves as a blueprint for the conservative governance agenda, including over 70 ESG-related policy recommendations. These ...

Finance Minister Enoch Godongwana is not presently considering amendments to banking laws to prevent what the Zondo Commission of Inquiry referred to as the arbitrary closure of banking accounts. A BusinessLIVE report says Godongwana replied in writing to a question in Parliament that ‘notwithstanding the conclusions and recommendations of the ...

The Competition Tribunal has dismissed an urgent application by Iqbal Survé's Sekunjalo group seeking to compel Nedbank to reopen its accounts. According to News24, the tribunal's three-member panel issued a two-page ruling rejecting Sekunjalo's bid to reverse Nedbank's closure of the accounts on 3 December. However ...

Legalbrief Today

The Department of Trade, Industry & Competition has invited various industries for talks about proposed equity targets for different economic sectors. However, employers say the consultations will be meaningless unless they are provided with the proposed targets so they can prepare adequately. Business Day reports that the proposed ...

The UK's FCA has issued an update on its 'polluter pays' proposals, providing clarity on expectations for firms and the regulator’s planned actions against non-compliance. Money Marketing reports that firms are required to take 'reasonable and verifiable steps' to address potential and actual redress liabilities. This includes ensuring adequate ...

Skadden reports that the US Securities and Exchange Commission (SEC) is set for sweeping changes under the second Trump administration, with a Republican-led Commission prioritising regulatory reform and a more business-friendly approach. Following Gary Gensler’s departure as Chair on 20 January 2025, interim leadership will likely transition to either Hester ...

The US Securities and Exchange Commission (SEC) has charged Navy Capital Green Management, LLC, a Connecticut-based investment adviser, with misrepresenting its anti-money laundering (AML) procedures and compliance failures. Navy Capital has agreed to settle the charges, paying a $150 000 civil penalty.

From October 2018 to January 2022, Navy Capital ...

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 business resilience. Resilience is the capacity to recover quickly from difficulties and adapt to challenges. Whether on a ...

Cryptocurrency is no longer a niche topic, according to a report by FT Adviser. According to the Financial Conduct Authority (FCA), seven million people in the UK own cryptocurrency, and the government estimates that 93% of the population is aware of it.

This growing awareness is mirrored by advisers’ experiences ...

DAUDS ON FINANCE & DERIVATIVES

By CI Dauds | Print ISBN: 9781485140009

A must-have for finance practitioners and students, Dauds on Finance & Derivatives explores the evolving field of finance with a focus on corporate governance, ethics, and modern financial realities. This comprehensive reference covers essential topics, including ...