GOVERNANCE IN 60 SECONDS
The Workplace Experience Mentorship Programme has launched successfully, with semester 2 cohorts still open for registration.
The Hub Briefing website is now live as a professional platform for company secretaries and governance, risk, compliance and assurance professionals.
CIPC remuneration governance guidance remains relevant to public and state-owned companies convening affected AGMs.
The FIC has issued Guidance Note 7B, strengthening expectations around proliferation-financing risk and accountable-institution compliance.
A proposed Crypto Assets Manual would introduce additional approval, reporting and exchange-control requirements for cross-border crypto transactions.
The FSCA’s latest Regulatory Actions Report confirms a sharp increase in enforcement activity, including penalties, debarments, licence withdrawals and public warnings.
The Gauteng High Court’s PIC judgment is a timely reminder that board urgency does not override lawful authority, procedural fairness or approved delegations.
HUB ECOSYSTEM UPDATE
The Workplace Experience Mentorship Programme has launched successfully. The programme supports Governance Practitioner (NQF 7) and Company Secretarial Route (NQF 8) students as they progress through their Workplace Experience Portfolio. Cohorts remain open for registration.
The Hub Briefing website is now live as a professional platform for company secretaries and professionals across governance, risk, compliance and assurance. The platform brings together practical insights, learning opportunities, career pathways, resources and a growing professional community in one place.
Preparations continue for the Semester 2 Exam Preparation Cohorts, scheduled to commence on 24 August 2026. Professional Support Groups are available to provide semester-long study, mentorship and career support.
COMING UP
Semester 2 Exam Preparation Cohorts commencing on 24 August 2026.
Continued development of Learning Centre resources.
Click here: The Hub Briefing is now live
GOVERNANCE RADAR
Development | Key Update | Status |
FIC compliance guidance and reporting requirements | Guidance Note 7B updates accountable-institution guidance by incorporating proliferation-financing risk alongside money-laundering and terrorist-financing controls. | Practitioners should review RMCPs, customer due diligence processes, technology risk assessments and implementation dates. |
CIPC remuneration governance requirements | CIPC has clarified when sections 30A and 30B of the Companies Amendment Act apply, including to public and state-owned companies convening affected AGMs after 22 May 2026. | Guidance issued; governance implications now in effect. |
FSCA enforcement activity | The FSCA’s 2025/2026 Regulatory Actions Report records materially higher enforcement activity, including penalties, debarments, licence withdrawals and public warnings. | Boards should consider conduct-risk reporting, remediation tracking and digital-marketing oversight. |
Further reading: FIC Guidance Note 7B; CIPC Guidance on Sections 30A and 30B; CIPC Notice 35 of 2026; FSCA Regulatory Actions Report 2025/2026.
• Financial Intelligence Centre, Guidance Note 7B
• Financial Intelligence Centre, Draft Guidance Note 7B consultation notice
• CIPC, Guidance on Companies Amendment Act sections 30A and 30B
• CIPC, Notice 35 of 2026
THE GOVERNANCE LENS
PIC CEO Suspension: Due Process Is a Board Responsibility
The Gauteng High Court declared the suspension of Public Investment Corporation CEO Patrick Dlamini unlawful and ordered his reinstatement. The court found that the board had acted outside its powers and had not followed the required governance framework, including the PIC Act, internal delegations of authority and the applicable ministerial approval process.
The judgment is significant because it shows that a board may face legal consequences even where it believes urgent action is necessary to protect an organisation during a governance, executive-conduct or whistleblower-related crisis.
The Governance Lens
Board powers must be exercised within the organisation’s founding legislation, delegations and approved governance instruments.
Precautionary suspension does not remove the need for lawful authority, procedural fairness and carefully documented decision-making.
Whistleblower allegations require independent investigation, protection of evidence and a clear separation between investigation and sanction.
Company secretaries should verify that board resolutions are authorised, properly recorded and consistent with delegations.
Boards should review executive suspension, investigation and crisis-response protocols after the judgment.
FSCA Enforcement: Digital Conduct Risk Is Now a Board Issue
The FSCA’s latest Regulatory Actions Report records more than R2.8 billion in administrative penalties for the year ended 31 March 2026, compared with R119.8 million in the preceding period. The regulator also reported extensive enforcement activity, including completed investigations, debarments, licence withdrawals and public warnings.
Boards should treat digital distribution and financial promotions as conduct-risk channels.
Compliance monitoring should cover social-media marketing, influencers, introducers and third-party lead generators.
Fit-and-proper controls require regular review, not only checks at appointment.
Audit and risk committees should track regulatory remediation to completion.
Enforcement trends should inform product governance, training and customer-outcome reporting.
Further reading: Daily Maverick, Mail & Guardian and News24 coverage of the PIC CEO suspension judgment; FSCA Regulatory Actions Report 2025/2026; FAnews coverage of FSCA enforcement activity.
GOVERNANCE INTELLIGENCE
Cross-Border Crypto: New Compliance Architecture Is Emerging
Intelligence Brief
National Treasury and the South African Reserve Bank have published a draft Crypto Assets Manual for cross-border activities. The proposed framework would require approval for certain activities, reporting of cross-border crypto transfers and compliance by crypto-asset service providers with FSCA and FIC requirements. Public comment is open until 30 September 2026.
Identify whether the organisation conducts or facilitates cross-border crypto-asset activity.
Review onboarding, sanctions, AML/CFT and transaction-monitoring controls.
Determine whether external providers are appropriately licensed and registered.
Prepare comments or internal impact assessments before the 30 September deadline.
Update risk registers to address exchange-control, reporting and illicit-finance exposure.
Further reading: SARB and National Treasury joint statement on the Draft Crypto Assets Manual; National Treasury public-comment page; Exchange Control Circular No. 19/2026; Reuters coverage of South Africa’s proposed cross-border crypto rules.
RESOURCE OF THE PERIOD
FIC Guidance Note 7B
Overview
The Financial Intelligence Centre’s Guidance Note 7B updates compliance guidance for accountable institutions, including the treatment of proliferation-financing risks under the FICA framework.
Practical Benefit
The guidance can assist compliance officers, boards and risk committees in reviewing whether existing AML/CFT/CPF frameworks properly address proliferation-financing risks, governance responsibilities and control documentation.
Further reading: FIC Guidance Note 7B; FIC draft Guidance Note 7B consultation notice; ENS commentary on Guidance Note 7B and accountable institutions.
FACES OF GOVERNANCE
Beyond the Boardroom
Behind every governance professional is a unique story. This feature celebrates the people shaping governance across South Africa by highlighting their career journeys, professional contributions and the interests that define them beyond work.
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Until next time,
The Editorial Team
The Hub Briefing