by VDT Attorneys | Nov 24, 2025 | AML, Anti-Money Laundering, Backdated shares, Compliance, Financial Sector Conduct Authority
When share transfers are intentionally backdated, the true date of the transaction is manipulated. Several legislative provisions prohibit backdating shares.The Financial Intelligence Centre Act, 38 of 2001 (“FICA”), provides that accountable institutions are...
by VDT Attorneys | Nov 12, 2025 | Compliance, Information Regulator, PAIA, Trustee Duties, Trusts
The Promotion of Access to Information Act 2 of 2000 (“PAIA”) stipulates that both private and public bodies are obliged to comply with the requirements as set out in the PAIA. Whether a trust qualifies as a private body is, however, unclear in terms of the...
by Jan Van Wyk | Oct 23, 2023 | Compliance, Cyber security, Cybercrime, Data Security, Information Technology, Technology
With apps, online platforms, social media and the increasing reliance on and use of technology in everything we do continue to expand exponentially, it is no surprise that the prevalence of cybercrime parallels this exponential growth. Add in the growing...
by VDT Attorneys | Jul 3, 2023 | Accountable Institution, Amendment Act, Compliance, Tax, Trust
With the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act 22 of 2022 (“Amendment Act”) having come into full effect on 1 April 2023, SARS has updated its Income Tax Return Wizard system to enable SARS to intensely verify the...
by VDT Attorneys | Apr 18, 2023 | Amendment Act, Anti-money Laundering Amendment Act, Beneficial Ownership, Compliance, Money Laundering, Trust
For ease of reference we repeat the new definition of ‘beneficial owner’ which in the context of a trust includes any the following: The natural person(s) who directly or indirectly ultimately own the trust property. The natural person(s) who exercises effective...
by VDT Attorneys | Mar 30, 2023 | Amendment Act, Beneficial Ownership, Company, Compliance, Fines, Money Laundering, Trust
The recently passed General Laws (Anti-Money Laundering and Combatting Terrorism Financing) Amendment Act 22 of 2022 (“Amendment Act”) contains a number of key amendments to the Trust Property Control Act 57 of 1988 (“Trust Act”). One of these amendments which we will...
