By Stephany Torres (12 August 2024) Swiss prosecutors have concluded a four-year investigation into the mining giant Glencore, resulting in a CHF 2 million (USD 2.3 million) fine and a USD 150 million compensation bill for the company. Notably, this Swiss enforcement action stems from a bribery scandal in the Democratic Republic of Congo (DRC), […]
Blogs
Pointing fingers at myself: Why an organ of state should not rely on its own unlawful conduct to avoid compensating innocent contracting parties
By Brandon Cole (10 August 2024) On 2 October 2024, the Constitutional Court handed down a significant judgment addressing a just and equitable remedy under Section 172(1)(b) of the Constitution. The case exemplifies a broader phenomenon in which organs of state, including the applicant in this matter, the Greater Tzaneen Municipality, attempt to rely on […]
African Antitrust Authority Fines META quarter-billion dollars – WhatsApp (with that?)
By Andreas Stargard Nigeria’s FCCPC has imposed a U.S. $220m fine on WhatsApp’s parent company Meta for violating data privacy laws, continuing the FCCPC’s consumer-protection streak When it rains, it pours. And when the nascent FCCPC (on whose relatively youthful existence we have reported extensively) issues a fine on a global mega corporation like META (or BAT […]
South Africa’s New Cabinet Under the GNU: A Shift Towards Business-Friendly Policies?
By Megan Friday On Sunday, 30 June 2024, President of South Africa, Cyril Ramaphosa announced South Africa’s new cabinet under the newly-formed Government of National Unity (‘GNU’). The Government of National Unity is “a government that brings together a number of rival leaders and political parties in order to promote national unity and political stability” (Cheeseman, […]
Understanding Draft PCC 121A: A New Chapter in Beneficial Ownership.
By Brandon Cole (18 June 2024) Introduction On 14 June 2024, the South African Financial Intelligence Centre (FIC) issued draft public compliance communication 121A (PCC 121A) for a second round of consultation. This draft aims to provide comprehensive guidance on the definition of beneficial ownership and the practical application of section 21B of the Financial Intelligence Centre […]
Draft Vertical Restraints Regulations: what is an SPLC for purposes of section 5(1)?
By Joshua Eveleigh On 03 June 2024, the Department of Trade, Industry and Competition (“DTIC”) published the draft Vertical Restraints Regulations (“Draft Regulations”) with the intention of providing a non-exhaustive list of factors to assist in determining whether a restrictive vertical practice, contravenes section 5 of the Competition Act, 89 of 1998 (“Competition Act”). The […]
