South Africa’s FATF grey listing earlier this year served as a stark wake-up call revealing deficiencies in our adherence to global AML standards. In response, the FIC Act – a regulatory framework for identifying, assessing, and combating financial crime and anti-money laundering through a risk-based approach – was introduced.
South Africa's Guardian's Fund falls under the purview of the Master of the High Court and was created to hold and administer funds for minors, persons incapable of managing their own affairs, unborn heirs, and others.
South Africa's legal profession is at a new crossroads. The imminent amendments proposed by the Legal Practice Council are not just bureaucratic shifts but a call for a more egalitarian, just, and inclusive legal system.