Section 71 of the Companies Act 71 of 2008 (the “Companies Act”) makes provision for the removal of directors by both the shareholders of a company and the board of directors of a company.
The Bank for International Settlements’ Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) today published final guidance confirming that stablecoin arrangements should observe international standards for payment, clearing and settlement systems.
On 7 April 2022, the United Kingdom’s Financial Conduct Authority (“FCA”) published its 2022/23 Business Plan (“Business Plan”), as well as its Strategy for 2022 to 2025 (“Strategy”).
In our previous articles, we discussed that South Africa has until the end of February 2023 to meet a tight deadline to amend its Financial Intelligence Centre Act, 2001 (“FICA”) or face the consequences of its financial institutions being grey listed by the Financial Action Task Force (“FATF”).
The Kenyan Government, in its latest Finance Act 2022, has enacted some key changes in the area of direct tax, including an important update on the country-by-country (CbC) reporting threshold for multinational companies.