Deadline for filing of securities registers looms!
This quick newsflash is just to inform our corporate clients that all companies registered with the Companies and Intellectual Property Commission (CIPC) (each, a "Company") must file their securities registers (including details of beneficial owners) with the CIPC ("Disclosure Requirement") by no later than 24 May 2024.
Breaking down the new beneficial ownership reporting requirements for trusts
The Amendment Act has introduced new trustee obligations into the existing South African trust law. The changes pertain to the recording and reporting of beneficial ownership of trusts. The aim of this recording is to improve transparency regarding the ownership of trust assets to assist in the combatting of a money laundering and terrorist financing.
Greylisting or Grey Hairs : new company disclosure requirements deadline 1 October 2023
Analysing the new disclosure requirements in the General Laws Amendment Act, 2022 In response to the greylisting by the Financial Action Task Force, the President has signed into law the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act to improve SA’s ability to combat money laundering and terrorist financing The Amendment Act has more...
More transparency or more trouble? A look at the Companies Amendment Bill, 2021
If passed, the Companies Amendment Bill will be the first substantive amendment to the Companies Act since it came into force in 2011. The Bill includes a contentious requirement for large companies to disclose their executive remuneration policy to the shareholders for approval including a ratio comparing the compensation of the highest-earning employees with that more...