More amendments on the table to get SA off the grey list
One of the amendments will allow Sars to share taxpayer information with a wider range of government agencies.
Beneficial Ownership
Videos
Watch: MBSE launches RE training for FAIS representatives
Watch: FPI Financial Planner of the Year on key issues shaping the financial landscape
Animated video explains the two-pot retirement system
NCA Credit providers’ FICA obligations
NCR Desktop Audits
Is South Africa on track to getting off the grey list?
Looking back at this year’s FPI Professional’s Convention
Enhance your HR skills by attending our insightful webinars in November
Webinars on how to investigate misconduct and address poor performance
CIPC reminds companies to file their beneficial ownership information
The Commission will conduct inspections to verify the filed beneficial ownership information on record.
When will Cofi be served?
The FSCA publishes its updated regulatory agenda for the next three years.
What private companies should know about beneficial ownership disclosure
To make sense of the new disclosure regime, it is necessary to distinguish the novel concept of a beneficial owner from the pre-existing notion of “beneficial interest”.
Thursday briefing: a round-up of recent financial news
Real incomes down 4pp | Push to sanction non-disclosure of beneficial ownership | Cell captive plan for expensive medical treatment
Harsh penalties for trustees for non-compliance with new reporting requirements
The offences relate to not recording information about beneficial ownership and service providers that are accountable institutions.
Trustees are in contravention of beneficial ownership regulations, says FISA
Trustees cannot be expected to have all the information within a few hours of the gazetting of the final regulations, it says.
Beneficial ownership disclosure requirements about to take effect
Companies will have to file information with the CIPC about the natural persons who are the beneficial owners of the company.
Monday briefing: a round-up of recent financial services news
FSCA’s risk-based approach | Medical scheme in liquidation | CIPC to collect beneficial ownership info | SA ties with Russia ‘a risk’
What trustees should know about the amendments to the Trust Property Control Act
Among other things, trustees are obliged to keep adequate records in relation to beneficial ownership.
Amendments could result in companies moving their primary listing, says JSE
The proposed “beneficial owner” disclosure and reporting requirements for listed companies could result in companies moving their primary listing from South Africa to other jurisdictions, the JSE has told the National Assembly’s Standing […]
Beneficial ownership information must be available to the public, says Cosatu
The Congress of South African Trade Unions (Cosatu) has called for information about the beneficial ownership of companies to be made publicly available. Cosatu and one of its affiliates, the Southern African Clothing […]
Trusts under the magnifying glass of local and international financial watchdogs
If a trust is not valid, the trustees can be held personally liable for any taxes related to the trust activities.
Pending cross-sector regulations that may apply to FSPs
The FSCA has provided an update on how it is progressing with a number of regulatory frameworks that will apply across the financial services sector, including to FSPs. The details are contained in […]
Verification of client’s beneficial ownership is an essential element of FIC compliance
Financial Service Providers (FSPs) play a crucial gate keeping role through which entry to financial markets can be accessed. Unfortunately, criminals are aware of this access point, and seek to exploit vulnerabilities of […]
