Global Residential Cities Index: Cape gets 5th spot
South Africa - Property360
Cape Town has come out as the fifth-best performing city (with 68%) in the last five years in Knight Frank's Global Residential Cities Index report that tracks mainstream residential prices across 150 cities worldwide. The report also showed that Budapest (24.2%) has been usurped by the Chinese city of Xi’an (25.1%) this quarter as the city with the highest rate of annual growth.
Overall, the index continues to track lower recording average growth of just 3.5% in the year to June 2019, down from a high of 6.7% at the end of 2016.
Rising economic uncertainty, trade tensions, political crises and affordability concerns are leading to weaker sentiment in mainstream housing markets.
Making lifestyle audits easy practice for business
South Africa - Tech4Law
The term “lifestyle audit” has fast become a hot topic. This following a pledge by President Ramaphosa and the recent announcements by Public Service Minister Senzo Mchunu, and Public Works and Infrastructure Minister Patricia de Lille that the government will be conducting lifestyle audits on state employees and ministers. But what are lifestyle audits and what place, if any, do they have in the private sector?
The Annual Crime Statistics Report for 2018/2019, released by Minister of Police, General Bheki Cele in September, showed a 14.4% increase in commercial crime. “With commercial crimes including fraud, corruption and bribery on the increase, the onus is not only on the public sector but also on the private sector to try and root out this kind of crime and help reduce these statistics,” says Greg Brown, Director of Data Services at LexisNexis South Africa.
How FICA affects you and your legal practice
South Africa - De Rebus
All legal practitioners practising for their own account are required, in terms of s 84 of the Legal Practice Act 28 of 2014, to hold a valid Fidelity Fund Certificate (FFC). In support of an application for the FFC by a legal practitioner, the legal practitioner’s annual statement on trust accounts is required to be submitted to the Legal Practice Council by the legal practitioners of a legal practice. In terms of this statement clause 2 deals with attorney’s compliance requirements, with sub-clauses 2(i) – (n) specifically dealing with the Financial Intelligence Centre Act 38 of 2001 (FICA) requirements.
The Financial Intelligence Centre (FIC) is South Africa’s national centre for the receipt of financial data, analysis and dissemination of financial intelligence to the competent authorities (www.fic.gov.za, accessed 16-8-2019). The FIC was established by FICA and has the mandate to identify the proceeds of crime, combat money laundering and terror financing. It does this by seeking to: