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Mboweni says no to SARB nationalisation

By Daily News Published on Monday, 22 February 2021
Tags: #Banking & Finance Law
Finance Minister Tito Mboweni stated categorically in Parliament on Friday that the government would not proceed with the nationalisation of the SA Reserve Bank (SARB).

Alcohol, tobacco sales bans have backfired

By Daily News Published on Monday, 22 February 2021
Tags: #Banking & Finance Law #Health Care & Social #Tax Law
Government’s imposition of temporary bans on tobacco and alcohol sales was intended to curtail the consumption of tobacco and alcohol during the pandemic.

Irba's Sharemax hearing postponed indefinitely

By Daily News Published on Thursday, 18 February 2021
Tags: #Banking & Finance Law #Litigation
The Independent Regulatory Board for Auditors (Irba) disciplinary hearing against former auditors of the failed Sharemax property syndication scheme has been postponed sine die, says a Moneyweb report.

Sharemax auditors' case labelled 'a nullity'

By Daily News Published on Wednesday, 17 February 2021
Tags: #Banking & Finance Law
The actual or perceived bias of two members of the Independent Regulatory Board for Auditors (Irba) disciplinary committee in the disciplinary hearing against three former auditors of Sharemax has made the case a nullity, claimed Advocate Mike Maritz, who is appearing for Jacques Andre van der Merwe, Danie Dreyer and Petrus Johannes Jacobus Bekker.

SARB moves on crypto-currency regulation

By Daily News Published on Tuesday, 26 January 2021
Tags: #Banking & Finance Law #Business & Industry Law
The SA Reserve Bank (SARB) says foreign-exchange controls will soon apply to crypto-currencies such as bitcoin, while all crypto asset service providers will need to apply for a special licence from the Financial Sector Conduct Authority.

Class action tackles sale prices of repossessed homes

By Daily News Published on Monday, 18 January 2021
Tags: #Banking & Finance Law #Civil Rights #Litigation
An affidavit filed in support of the R60bn class action suit brought by Lungelo Ditokelo Human Rights Foundation against the major banks, based on a sample of about 12 000 repossessed properties, found that these properties were sold for 50-60% of their proper value, mainly through sheriff’s auctions.

Release of funds to Gupta-linked group blocked

By Daily News Published on Wednesday, 09 December 2020
Tags: #Banking & Finance Law #Litigation
Days before R1.26bn in frozen funds was due to be released to Gupta-linked Chinese rail group CRRC, the Gauteng High Court (Pretoria) yesterday handed down an order that the monies remain frozen until the company provides a bank guarantee for the same amount to SARS, notes an amaBhungane report on the Daily Maverick site.

Nedbank settlement claim dismissed on appeal

By Daily News Published on Tuesday, 08 December 2020
Tags: #Banking & Finance Law #Litigation
The Polokwane High Court has dismissed Nedbank’s attempt to claim more than the R800 000 it agreed to in terms of a settlement with the liquidated Cape Town Fish Market in Polokwane, notes a Moneyweb report.

Absa suspends employee over customers data breach

By Daily News Published on Wednesday, 02 December 2020
Tags: #Banking & Finance Law #Business & Industry Law #Science & Technology Law
Absa Bank is pressing criminal charges against an employee who has subsequently been suspended for illegally accessing and sharing customer information with third parties, the bank said yesterday, according to a Business Day report.

Attorney takes on alleged timeshare payment abusers

By Daily News Published on Monday, 19 October 2020
Tags: #Banking & Finance Law #Civil Rights #Consumer Protection Law
An attorney who specialises in consumer law has reported several companies in the timeshare and holiday club industry to the Payments Association of SA (Pasa) for alleged abuse of the payment system.

SA banks linked in flow of 'dirty money'

By Daily News Published on Monday, 21 September 2020
Tags: #Banking & Finance Law #Criminal Law
Several global banks moved large sums of allegedly illicit funds during nearly two decades, despite warnings about the organisations they were dealing with, BuzzFeed and other media reported yesterday, citing documents submitted by banks to the government.

R100 000 deposit under scrutiny in tender-rigging matter

By Daily News Published on Monday, 14 September 2020
Tags: #Banking & Finance Law #Litigation
An amount of R100 000 deposited into the personal bank account of an accused in the nearly half-a-billion-rand Durban Solid Waste (DSW) tender-rigging matter has come under scrutiny in one of Durban’s biggest corruption scandals, says a Sunday Tribune report.

Retired judge to lead inquiry into Gupta assets

By Daily News Published on Monday, 31 August 2020
Tags: #Banking & Finance Law #Insolvency Law #Litigation
Retired Judge Meyer Joffe will chair a closed inquiry into how an estimated R1bn of assets, cash, high-value residential and commercial properties and mining equipment belonging to the Guptas’ Islandsite company allegedly vanished, says a Sunday Times report.

High Court rules for Mkhwebane in attorney case

By Daily News Published on Monday, 24 August 2020
Tags: #Banking & Finance Law #Litigation
The Gauteng High Court (Pretoria) has dismissed, with costs, attorney Anthony Mostert's application for leave to appeal the court's earlier decision in which it granted costs in favour of the Public Protector in a matter Mostert brought against the office on an urgent basis in 2019.

24m customers exposed in credit bureau hack

By Daily News Published on Thursday, 20 August 2020
Tags: #Banking & Finance Law #Civil Rights #Science & Technology Law
The SA Banking Risk Information Centre (Sabric) has confirmed that credit bureau Experian suffered a data attack which ‘has exposed some personal information of as many as 24m South Africans’.

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