| 1. | Draft Public Compliance Communication 102 on Supervisory Body Access to STR and STR information
The draft PCC 102 sets out the provisions of the FIC Act that allows for certain supervisory bodies, which includes the FSCA and the SARB, to have access to suspicious and unusual transaction reports (STR) as submitted by reporting entities to the FIC. Any other supervisory body may only gain access to section 29 repost information with explicit prior consent given by the FIC. The draft PCC102 further explains the process that must be followed by all supervisory bodies should they request STR or STR related information from the reporting entity as well as information from the FIC regarding an STR. |
| 2. | Draft Public Compliance Communication 104 on South Africa’s Targeted Financial Sanctions Regime
The Draft PCC 104 provides for guidance on the different sanctions regimes in South Africa which is implemented through the FIC Act (Act No 38 of 2001) and Protection of Constitutional Democracy Against Terrorist and Related Activities Act, 2004 (Act 33 of 2004). |
Supervisory bodies, accounting institutions, reporting institutions and all interested parties are invited to make comment on the draft PCC’s by no later than Monday, 20 January 2020.
Click here to download Draft PCC 102 and Draft PCC 104
