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The FIC’s ‘grace period’ for compliance has expired, so make sure your business meets all the regulatory requirements.
Conventional wisdom says that living expenses rise uniformly with inflation, so many financial plans are based simply on that. But analysing the spending patterns of retirees shows us that the data tells a different story.
Read moreThe FIC’s ‘grace period’ for compliance has expired, so make sure your business meets all the regulatory requirements.
Accountable institutions should consider the latest Terror Financing National Risk Assessment when implementing their RMCPs.
The Centre’s analysis found the extensive use of shell companies to host and conceal fraudulent funds.
Draft Guidance Note 7A provides further guidance to accountable institutions about their Risk Management and Compliance Programme obligations.
The DPI applies to all FSPs excluding FSPs that are exclusively authorised to render financial services in respect of non-life insurance and/or health service benefits.
The response to the Centre’s appeal to submit the outstanding risk and compliance returns ‘is not good enough’.
Accountable institutions are required to scrutinise client information against the targeted financial sanctions lists to identify designated persons and entities linked to clients.
The relevant accountable institutions must submit the RCRs to avoid additional scrutiny or administrative sanctions.
The Equality Court makes an order in an application brought by six natural and juristic persons whose bank accounts were closed by Absa and FNB.
Non-submission of the RCR required by Directive 6 will prevent the Financial Intelligence Centre from demonstrating compliance with the FATF’s action plan.
The directory contains a brief description of each document, a link to the document and, where available, links to other communication related to it.
These are the PCCs relating to beneficial ownership and the targeted financial sanctions obligations.
The FIC’s Public Compliance Communication addresses the updated approach to TFS as set out in the amended legislation.
The Financial Intelligence Centre says many accountable institutions have ignored its instructions to submit a risk and compliance return.
The same transaction may give rise to the submission of multiple reports to the Financial Intelligence Centre.