Regulatory News Archives

Is it time for businesses to take Business Rescue seriously?

By Ryan Smith & Lara Kahn, Partners at Webber Wentzel If boards of directors put financially distressed companies into business rescue earlier, more options would be available, and more companies could be saved Although fewer companies are commencing business rescue proceedings, the number of liquidations remains extremely high. With these numbers in mind, we believe …

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Cutting red tape – amendments to the Listings Requirements effective from 1 June 2022

Madelein Burger, Partner, Gopolang Kgaile Senior Associate & Nasrin Kharsany, Senior Knowledge Lawyer at Webber Wentzel On 4 May 2022, the JSE Limited (JSE) announced that the Financial Sector Conduct Authority (FSCA) published its approval of amendments to the JSE Listings Requirements, which will be effective from 1 June 2022. The amendments are the subject …

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Mining industry commits to new ESG reporting framework

At the Cape Town Mining Indaba this week, the International Council on Mining and Metals unveiled a new Social and Economic Reporting Framework for its members, who represent a third of the industry. Critics may see corporate whitewashing, but such initiatives are driven in part by investors and add to transparency. Read the full article …

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POPIA thoughts and perspectives … 10 months in

By Karl Blom, Peter Grealy, Nozipho Mngomezulu, Wendy Tembedza, Partners & Cindy Leibowitz, Knowledge Lawyer at Webber Wentzel Recent developments relevant to data protection issues offer some guidance for businesses, including in the event of data breaches and M&A transactions It has been 10 months since the commencement of the Protection of Personal Information Act, …

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5 new hiring rules planned for businesses in South Africa

Employment and Labour minister Thulas Nxesi published the draft National Labour Migration Policy and Employment Services Amendment Bill in February for public comment, with the new bill intended to regulate the employment of foreign nationals in South Africa, says legal firm Werksmans Attorneys. As part of a raft of new changes, the bill proposes to …

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South Africa’s procurement regulatory regime finds itself in muddy waters

By Megan Adderley, Consultant & Roxy Harrington, Candidate Attorney from Webber Wentzel Regulatory uncertainty abounds in the procurement space after the recent Constitutional Court judgment upholding the Supreme Court of Appeal’s decision to invalidate the 2017 Preferential Procurement Regulations In 2018 National Treasury estimated South Africa’s annual spend on public procurement was approximately ZAR 938 …

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Significant shift in environmental landscape anticipated as NEMLAA4 enters home stretch

By Garyn Rapson, Partner & Tendai Bonga, Senior Associate from Webber Wentzel The long-awaited NEMLAA4 has been sent to the President for signature concluding a 6-year long parliamentary process. NEMLAA4 once signed will introduce higher environmental compliance standards across the board, as well as stricter penalties for environmental transgressions It is finally happening – the …

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How Blockchain Will Shape the Future of Accounting

Forward-thinking innovator Jacob Lewtan sees the fourth industrial revolution as a persistent threat to the accounting profession. He draws upon his knowledge of the power of analytics, fraud, and monitoring to connect how the accounting profession can advance through use of emerging technologies.

Crypto is colliding with accounting

Accounting will not disappear, but accountants as we know them might. In the recent Netflix blockbuster: Don’t Look Up, a group of astronomers sound the alarm about a killer asteroid hurtling towards earth, only for many to hit the snooze button. Monica Singer is the accounting equivalent of those astronomers. Singer, a chartered accountant, former CEO of Strate (a central securities …

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Controversial Films and Publications Amendment Act becomes operational

By Carla Collett, Partner & Cindy Leibowitz, Knowledge Partner at Webber Wentzel Many commentators are concerned that the recently introduced Films and Publications Amendment Act designed to address the dangers of the online world, raises some internet censorship concerns The Films and Publications Amendment Act, 2019 (Amendment Act) became operational on 1 March 2022. The Amendment …

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