THE CONSEQUENCE OF NON-COMPLIANCE: UNDERSTANDING THE PENALTIES FOR VIOLATING THE FINANCIAL INTELLIGENCE CENTRE ACT NO. 38 OF 2001
Background: The provisions of the Financial Intelligence Centre Act No. 38 of 2001, as amended (“FICA”), go beyond being a mere “add-on” to existing business procedures. To ensure effective compliance, businesses must develop well-defined...
THE NEW EMPLOYMENT EQUITY AMENDMENT BILL – AN OVERVIEW OF THE KEY AMENDMENTS
Background: The Employment Equity Amendment Bill of 2020, which was passed by parliament on 17 May 2022, has now been signed into law by the president of the Republic of South Africa (“Employment Equity Amendment Bill”). The Employment Equity Amendment Bill makes...