FREE | Read the October 2022 edition of Business Law & Tax
Prudential Authority urges avoiding one-size-fits-all approach to crypto asset service providers, while it appears SA is stalling on blockchain arbitration agreements, and in 2023 Employment Equity Act amendments are expected to take effect
The Prudential Authority, acting in terms of the Banks Act, 1990, issued a guidance note relating to cryptoassets and crypto asset service providers which emphasises that risk assessment does not necessarily mean that banks should seek to avoid any risk entirely by, for example, closing the accounts of crypto asset service providers or by refusing to open an account for them.
With Eskom's power cuts more property and belongings are being damaged, triggering various insurance policies, though not all claims are being paid out. Read how to enhance one's chances of claiming successfully. We also have a look at the cost savings inherent in online dispute resolution.
SA enforces foreign arbitration awards through the International Arbitration Act 15 of 2017. We examine how a potential difficulty arises if the original arbitral agreement or award is generated in a virtual environment on the blockchain, as it may not have signatures at all in the traditional sense that are capable of authentication.
A ruling around violence during protest action has found common purpose requires active association with the violence before its commencement. The mere presence at the scene of the violent action does not invoke the doctrine of common purpose and impute that conduct to all bystanders.
Employers need to know any retirement policy must be unambiguous. And if an employer is seeking to make a change to the normal retirement age, it cannot do so unilaterally. Those employers who want to give their employees the option to continue working beyond normal retirement date should not open themselves up to risk.
Companies should also ensure their environment, social and governance (ESG) achievements are accurate, well-founded and backed up with data due to increasing public and regulatory scrutiny of such claims.
All these stories and more are available in this month's edition of Business Law & Tax.