Page 18 - Property Control News Today

New reporting obligations await trustees.

The FATF considers both technical compliance and effectiveness.

South Africa has put new laws in place to address the Financial Action Task Force’s (FATF) concerns, and those relating to beneficial ownership will have a significant impact on financial institutions and companies. In February 2023, the FATF placed South Africa on the “greylist” of countries which are under increased monitoring. South Africa was placed on the greylist as the FATF identified serious deficiencies in its regulatory systems and the effectiveness of its anti-money ...

South Africa's Companies and Intellectual Property Commission has announced that compulsory registration of trust and company beneficial ownership will take effect...

Louis Van Vuren, CEO of the Fiduciary Institute of Southern Africa, points out that the legislation cannot be rationally connected to the purpose for which it was promulgated.

The countrys economic growth and global competitiveness will be affected, but moves are being made to satisfy the global anti-money laundering watchdog.

The countrys competition regulator may not approve the deal...

The new prices will come into effect on 1 April 2023...

Amendments to the Trust Property Control Act impose unrealistic burdens on trustees.

A look at the terminology you need to familiarise yourself with.