Regulation

The latest news on the Two-Pot Retirement System

On 25 October 2023 National Treasury and SARS provided important feedback at the recent sitting of the Standing Committee on Finance as part of the parliamentary process regarding the much anticipated two-pot retirement system. The final legislation has not yet been issued but this is what we now currently. The date was set for 1 …

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Crypto Assets to be Treated as “Financial Products” by The Financial Sector Conduct Authority

A gazette notice was published by the Financial Sector Conduct Authority (FSCA) defining crypto assets in South Africa as a digital representation of value. This declaration takes immediate effect and ushers in the process of bringing these type of assets under regulation by South African authorities. The main reason for this move by the FSCA …

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National Treasury’s Proposed Amendment of Retirement Laws

During Covid lockdowns, National Treasury found that individuals under financial stress would resign from their jobs in order to gain access to their pension/provident fund money. This totally erodes their retirement savings and leaves them unemployed. This is a major stress to our economy and prompted National Treasury to look at proposals of freeing up …

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