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Financial advisors licensing changes

"It’s inevitable that currently authorised financial services providers are going to have to change their business models to adapt to a revised licensing framework,” says Thulani Dyasi, who works in the Banking and Financial Services Regulatory Practice Group at pan-African law firm Bowmans.

Why should organisations publish a meaningful integrated report?

Most modern, well-governed organisations are acutely aware of the need for their businesses to be run in an ethical and socially-conscious manner and for this ethos to be communicated to their stakeholders.

CASH FLOW CRUNCHING!

Every Small & Medium Business should be aiming to have some savings in the bank as a buffer for difficult months when sales are...

BBBEE Amendments | out for comment by 29 May 2018

If you consider that there have been many grey and confusing areas in-relation to BBBEE since the publication of the first Scorecard in 2003, and then compounding the ambiguity with the publication of the second Scorecard in 2013, these latest amendments in 2018, clarify a number of issues and also create a number of opportunities for BBBEE participating companies.

Reserve Bank keeps rates unchanged

There were no surprises today when the Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) delivered its first monetary policy statement for the year. Reserve Bank Governor Lesetja Kganyago announced that the repo rate remains unchanged at 6.75 percent.

Building a united front on financial crimes

Cyber attacks against financial services firms and other sectors have increased in number, size and sophistication. Globally, cybercriminals have launched large-scale attacks against banks and other financial institutions, siphoning billions of dollars from bank accounts as well as stealing millions of credit card records.

A NEW ERA IN AUDIT REPORTING

South Africa and the world recently saw one of the most significant changes in the audit sector with the International Auditing and Assurance Standards...

B-BEE Commission starts to show its teeth

The B-BBEE Commission announced in January 2018 that it made findings against a verification agency, SAB&T BEE Services (Pty) Ltd. It recommended remedial steps, including the issuing of a public apology and the commissioning of an independent audit of all certificates issued by the agency for 2014 to 2016.

The current status of business rescue

Generally, the South African business rescue process is positive in the sense that a successful business rescue delivers a restructured and viable company back into the South African economy and where jobs are retained in the process.

WHAT CONSTITUTES A BBBEE TRANSACTION?

The Department of Trade and Industry recently published, for public comment, a notice containing draft thresholds for major BBBEE transactions. "The draft thresholds are problematic in...
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