Tag: Webber Wentzel

The popularity of cryptocurrencies stems from the fact that trading takes place in an anonymous environment where individuals may use pseudonyms and are not face-to-face. However, as the crypto industry grows and becomes more developed, it is becoming less true that “crypto is anonymous”.

The Electronic Communications Amendment Bill, 2022, which introduces a number of significant amendments to the Electronic Communications Act 36 of 2005 (the ECA), has been published. Interested parties have until 23 July to submit written comments regarding the bill.

The recent Constitutional Court ruling in Arena Holdings (Pty) Ltd t/a Financial Mail and Others v South African Revenue Service puts pressure on President Cyril Ramaphosa to reveal the tax records of the Tshivhase Trust, owner of Phala Phala.

South Africa's Minister of Finance increased the maximum fines that the Independent Regulatory Board for Auditors can impose on auditors for misconduct.

Revisions to the draft legislation on the “two-pot” system for retirement funds were published on 9 June 2023, incorporating proposals mentioned in Chapter 4 of the 2023 Budget Review.

Businesses are required to take ownership of, and commit to, respecting human rights in their organisations and throughout their entire value chain. They need to act on identifying, preventing, mitigating, and remediating negative human rights impacts that may result from their operations or their business relationships, by putting the necessary systems and controls in place. 

Business and Human Rights (BHR) has become increasingly important due to the world's increased focus on Environment, Social and Governance (ESG). Human rights due diligence and human rights impact assessments are some of the key controls that guide corporate strategy and planning on BHR matters.

The Employment Equity Amendment Act has been signed into law, which paves the way for setting enforceable numerical targets for employment equity for economic sectors and fining employers who are non-compliant

On 18 April 2023, the Constitutional Court handed down judgment in National Union of Metalworkers of South Africa (NUMSA) v Trenstar (Pty) Ltd (Trenstar). It had to consider the interpretation of section 76(1)(b) of the Labour Relations Act (LRA), which prohibits employers from using replacement labour during a lock-out unless the lock-out is in response to a strike.

A growing number of South African fintech companies have developed market-ready products and are considering how to expand beyond the relatively small domestic arena. In doing so, they face a list of new issues. These include how to raise funds for growth, how bringing in international funding will affect their local Broad-Based Black Economic Empowerment (B-BBEE) status, and how they will be affected by changing regulations in the pipeline.