An accountable institution must register with the FIC to submit a risk and compliance return
How to submit information accurately to the Financial Intelligence Centre in respect of Directives 6 and 7.
How to submit information accurately to the Financial Intelligence Centre in respect of Directives 6 and 7.
This applies to some of the persons who became accountable institutions in terms of the amendments to Schedule 1 of Fica.
Like the regulator’s annual renewal registration process, the National Credit Act is filled with potential pitfalls. MBSE’s online courses help you to master the requirements of the Act.
The Financial Intelligence Centre reminds accountable institutions listed under Schedule 1 of the Financial Intelligence Centre Act of the looming deadlines to submit their respective risk and compliance return questionnaires by the end of May and July 2023.
There are different deadlines, depending on whether the entity became an accountable institution before or after December 2022.
The Centre’s reference guide will also assist all accountable institutions with meeting their Fica compliance obligations.
Companies that incur finance charges should also take note of a recent court case regarding the tax treatment of related or similar finance charges.
No carve-out to accommodate clothing retailers’ concerns about exclusion or compliance costs
As attention shifts to Parliament’s processing of the omnibus “anti-grey-listing bill”, the equally important amendments to the schedules to the Financial Intelligence Centre Act (Fica) have probably slipped from public view. However, the […]
The Financial Intelligence Centre (FIC) will work with entities that become accountable institutions in terms of the amendments to the Financial Intelligence Centre Act (Fica), to help them bed down compliance with the […]
The Ombudsman for Banking Services (OBS) has issued a communication that alerts consumers to their rights when it comes to debt that has prescribed. According to ombudsman Reana Steyn, most consumers are ignorant […]
Moonstone Business School of Excellence (MBSE) has completely revamped its two popular online courses on the National Credit Act (NCA) and will add a third course. All three courses provide the practical knowledge […]
The article below was written by Janine Will, Senior Associate in the Commercial Department of Garlicke & Bousfield Inc, and published in Commercial Law News. The current legal requirement that only those credit […]