Legal Articles and Guides
Regulator seeks Ithala liquidation
The Prudential Authority’s (PA’s) patience with embattled KZN-owned development agency Ithala has finally run out, with the regulator seeking the company’s liquidation – in a move to protect more than 250 000 depositors.
Sekunjalo loses Nedbank account closure fight
The Competition Tribunal has dismissed a last-gasp urgent application by Iqbal Survé's Sekunjalo group to force Nedbank to reopen its closed accounts.
Liebenberg bank accounts battle heads to SCA
The protracted legal dispute between the state and Louis Liebenberg over control of the controversial fraud accused diamond-dealer's bank accounts, is set to continue in the SCA on 20 February 2025.
Banks sign up to Hawks-driven corruption battle
SA’s banking sector has bowed to the Hawks’ request to arm its investigators with specialised skills as they go after money-launderers and other financial miscreants.
Survé moves to force Nedbank to reopen accounts
Bolstered by a Competition Commission finding that the banks that cut ties with the Sekunjalo Group had potentially violated competition law, Iqbal Survé and his companies have launched urgent legal action to force Nedbank to reopen their closed accounts, reports News24.
Leading banks ordered to address high service charges
SA's major banks – including FNB, Standard Bank, Nedbank, Investec, and Capitec – will appear before the Parliament's Committee on Trade, Industry & Competition next year to increase oversight into the financial sector.
A Ponzi scheme in sheep’s clothing
The Financial Sector Conduct Authority (FSCA) has issued a warning against Tiger Agriculture, a pyramid scheme promoted on social media that offers huge returns when people buy seedlings that are supposedly grown to mature plants and then sold.
Banxso wins preservation order fight with NDPP
The Western Cape High Court has taken less than a day to lift a preservation order against R100m in bank accounts linked to controversial brokerage Banxso.
Agreement to blacklist child maintenance defaulters
With 70% of parents defaulting on child maintenance in the first two years of a court order, the Department of Justice and the Social Justice Foundation are going ahead with a plan to blacklist defaulters with credit bureaus.
Cloned Banxso trading despite FSCA clampdown
The controversial trading platform Banxso has cloned its operations under a new brand, AfriMarkets reports Moneyweb.
Embattled Sasfin posts R58.7m loss
Sasfin, which has been trading under threat of JSE suspension over its delayed annual results, yesterday announced it posted a R58.7m headline loss in its year to end June, reports TimesLIVE.
SARB settles Steinhoff R9bn fund dispute
The SARB has settled part of its dispute with the Ibex group of companies, formerly Steinhoff, releasing R9bn to pay foreign creditors that the bank blocked in July.
Investec fraud accused Sishani Singh dies
Nishani Singh – who could have shed light on the murders of Cloete and Thomas Murray – died in Chris Hani Baragwanath Hospital on Saturday.
Expelled MKP founder loses bank account challenge
In another legal blow, the Gauteng High Court (Pretoria) has ordered that Jabulani Khumalo, the expelled founder of the MKP, be removed as a signatory to the party’s Standard Bank account.
ConCourt closes the door on Sekunjalo
The Constitutional Court yesterday ruled that an attempt by Iqbal Surve's Sekunjalo Group to appeal the dismissal of its racism case against Nedbank – which it used to block the closure of its accounts – has ‘no reasonable prospects of success’.
