Bankers should be jailed for reckless misconduct

Posted 19 June 2013

A new report by a UK parliamentary committee recommends jail time for bankers found guilty of reckless misconduct.

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SA targeted by British and NSA spooks

Posted 16 June 2013

South Africa's foreign ministry computer network was hacked by British spies, and the information was passed on to the US's National Security Agency, according to leaks from National Security Agency whistleblower Edward Snowden. 

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Shuttleworth's fight is one we should all support

Posted 14 June 2013

Mark Shuttleworth's Constitutional Court action to overturn exchange control is a fight we should all support, writes Chris Becker of the Mises Institute South Africa.

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Billionaire Shuttleworth seeks to have exchange controls banned

Posted 11 June 2013

Billionaire entrepreneur Mark Shuttleworth, who emigrated from SA in 2001, has brought an order before the Constitutional Court seeking to have exchange controls declared unconstitutional.

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NSA whistleblower says everyone is being spied on

Posted 10 June 2013

Given the recent controversy over SA's Secrecy Bill, here comes an alarming disclosure of just how far government over-reach goes. US National Security Agency advisor-turned-whistleblower Edward Snowden, says everyone's communications are being monitored by US intelligence agencies.

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ANC will have to wrestle Cosatu sooner or later

Posted 10 June 2013

The ANC government will have to chisel away at Cosatu's powers, in much the same way as Margaret Thatcher did to trade unions in the UK, if it is to achieve the growth targets of the National Deevelopment Plan, writes John Kane-Berman in Business Day.

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What does the rand have to do with our courts?

Posted 04 June 2013

To understand why the rand has dropped below R10 to the US dollar, start looking at the subversion of the rule of law that has been allowed to take hold in South Africa, writes Paul Hoffmann of the Institute of Accountability in Southern Africa in Business Day.

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Is this the biggest fraud in history?

Posted 29 May 2013

In this interview with NewERA's legal advisor, Raymondt Dicks, we ask whether the securitisation scandal as it has come to be known around the world is the biggest fraud in history. We also find out what's next for NewERA in light of a recent High Court judgement that appears to have energised the group's campaign to stop SA banks foreclosing on securitised loans.   

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National Prosecuting Authority's reputation in tatters

Posted 29 May 2013

The reputation of the criminal justice system is in tatters following the repeated failures of the NPA in high-profile matters and prosecutor Glynnis Breytenbach’s suggestions of abuse of power and political interference, writes Mandy Wiener in The Daily Maverick.

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No need for new Expropriation Bill

Posted 24 May 2013

Dr Anthea Jeffery, head of special research at the SA Institute for Race Relations (SAIRR) says the new Expropriation Bill, though better than its 2008 predecessor, still grants sweeping expropriation rights to all levels of government. It still allows government to expropriate and take possession all manner of assets before any compensation has been paid.

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Judgement opens a world of trouble for SA banks

Posted 20 May 2013

A judgement isssued last week in the South Gauteng High Court could open up a world of trouble for the banks. The verdict appears to buttress NewERA's claim that banks engaged in securitisation activities are violating statutes left and right, writes Arlene Levy. 

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Solidarity says it's time to talk affirmative action and race

Posted 19 May 2013

Solidarity LogoTrade union Solidarity says it is time the country started to come up with fresh ideas to address the racial imbalances bequeathed by apartheid. As part of its campaign, it is bringing several affirmative action cases before the Labour Court in an effort to challenge what it believes is a flawed government race policy, more concerned with quotas than actual outcomes. 

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This is how bad laws get made

Posted 12 May 2013

Bad laws end up on the statute books because no-one holds law makers accountable for the decisions they make. Successful countries subject proposed laws to rigorous cost-benefit analyses to ensure they do not produce unforeseen or unintended consequences. It's time we did the same.

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NewEra ordered to appear in court

Posted 10 May 2013

NewEra has been ordered to appear in court on Tuesday 14th May on charges of "vexatious litigation" and has been asked to explain why its directors should not pay the banks' court costs, writes Arlene Levy.

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New Economic Rights Alliance brings heat to the banks

Posted 05 May 2013

The New Economic Rights Alliance (NewEra) has lodged a complaint with the National Credit Regulator (NCR) calling on it to force the major banks to disclose details of their securitisation transactions, which are reckoned to exceed R20 billion a month, writes Arlene Levy.

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National Credit Regulator bares its teeth

Posted 01 May 2013

A total of 9,3 million South Africans out of 19 million with credit records are now three or more months in arrears on at least one debt. That’s about half the credit-worthy population behind on their bills, which is blamed in part of reckless lending by the banks.

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Bikers do doughnuts over new import policy

Posted 28 April 2013

Last month bikers from the Cape Town area protested outside parliament over a proposed new policy that could prejudice importers of “grey” motorcycles. This looks like a case of rent-seeking by official motorbike distributors.

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No easy passage for Secrecy Bill

Posted 23 April 2013

The so-called Secrecy Bill remains one of the most controversial and divisive pieces of legislation to come before the National Assembly. Despite improvements, the current version remains an affront to individual rights and could end up in the Constitutional Court.

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When is a bank not a bank

Posted 19 April 2013

The Reserve Bank has sweepingly wide powers when it comes to determining when a bank is - or is not - a bank. The case of U Care versus the Registrar of Banks was an opportunity to test the constitutionality of these powers, but the opportunity was squandered, writes Sageer Pansari, a candidate attorney with Schoeman Attorneys, Conveyancers and Notaries Public.

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Licensing of Businesses Bill skewered for reprising apartheid-era law

Posted 15 April 2013

The ostensible purpose of the Licensing of Businesses Bill is to help control illegal imports, counterfeit goods, and poor quality products. But it looks, feels and smells like something from the apartheid era.

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Consumer Protection Act now on a roll

Posted 11 April 2013

The National Consumer Commission (NCC) had a troubled birth, but now appears to be making steady progress in fulfilling its mandate to safeguard consumer rights by overseeing the formulation of new industry consumer codes.

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We are all tax collection agents now

Posted 07 April 2013

South African Revenue Services (SARS) has the power to appoint anyone as its collection agent. It has done it to employers, banks and now retirement funds, writes Ciaran Ryan.

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New teeth for Competition Commission

Posted 01 April 2013

New powers granted to the Competition Commission are likely to be put to use in the healthcare sector, which government suspects has engaged in anti-competitive behaviour, writes Ciaran Ryan.

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Twitter your way to a world of trouble

Posted 26 March 2013

There are reckoned to be 55 million tweets a day gushing forth from an army of 500 million citizen journalists and commentators. Many are now finding themselves subject to the same legal rigours as traditional newspapers.

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Budget 2013 Procurement and combating corruption

Posted 28 February 2013

Budget Speech 4The 2013 budget is about delivering "value for money" said finance minister Pravin Gordhan. That means getting serious about stamping out corruption.

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