Accountable institutions face being fined for not submitting their risk and compliance returns
The Financial Intelligence Centre sets a deadline for the many entities that have not complied with Directive 6.
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 Financial Intelligence Centre sets a deadline for the many entities that have not complied with Directive 6.
The applicable designated non-financial businesses and professions that do not submit a risk and compliance return face administrative sanctions.
This applies to some of the persons who became accountable institutions in terms of the amendments to Schedule 1 of Fica.
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.