Anti-grey-listing laws get through Parliament just in time
But amending legislation won’t be enough to satisfy the Financial Action Task Force.
#General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill
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Is South Africa on track to getting off the grey list?
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Omnibus anti-money laundering bill almost there
Opposition parties criticise rushed process and impact on NGOs.
MPs accept refinements to omnibus anti-money laundering amendment bill
Trust practitioners are not happy that Treasury ‘ignored’ their proposals to undo the ‘devasting effects’ of the legislation.
MPs decline to process omnibus anti-grey-listing bill
Minister of Finance asked to explain the absence of an assessment of the socio-economic impact of the General Laws Amendment Bill.
Fisa makes urgent submission to Parliament on ‘beneficial ownership’ relating to trusts
It says the amendment bill imports a foreign concept that is in conflict with South African trust and property law.
Finance committee chairperson takes aim at Intellidex report ‘canvassing’ for SA to be grey-listed
The chairperson of the National Assembly’s Standing Committee on Finance (Scof) this week sharply criticised “a section” of the business community for publishing a report suggesting there is an 85% probability that South […]
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 […]
New deadline to comment on anti-grey-listing bill
The National Assembly’s Standing Committee on Finance (Scof) has extended to 25 October the deadline for submitting comments on the omnibus bill aimed at preventing South Africa’s grey-listing next year. On Tuesday, the […]
Time is against South Africa to avoid grey-listing
If South Africa does escape being grey-listed next year, it will be by the skin of our teeth. Time is not on the country’s side when one considers the work that must be […]
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 […]
Non-profit organisations caught between a rock and a hard place
The Department of Social Security is not equipped to deal with the registration of every non-profit organisation (NPO) in the country, while the failure of NPOs to register will have dire consequences for […]
Deadline for submissions on omnibus anti-money laundering bill
The National Assembly’s Standing Committee on Finance has announced the deadline for written submissions on the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill, which amends five pieces of legislation. Read: […]
Averting grey-listing depends on progress with enforcement
National Treasury has reiterated its message that changing legislation will not be enough to avert a potential grey-listing next year; the authorities will have to demonstrate commitment and progress with enforcing legislation aimed […]
Treasury publishes omnibus anti-money laundering bill
The process to address deficiencies in the country’s anti-money laundering and anti-terrorism financing legislation got under way this week after Minister of Finance Enoch Godongwana tabled the General Laws (Anti-Money Laundering and Combating […]
Omnibus bill to beef up SA’s anti-money laundering measures
Minister of Finance Enoch Godongwana has published an explanatory summary of a bill that will amend five Acts of Parliament as the government moves to beef up the country’s anti-money laundering and counter […]
