The Financial Intelligence Centre (FIC) has invited a third round of comments on the proposed revisions to Chapter 4 of Guidance Note 7, which address Risk Management and Compliance Programmes (RMCPs).
Draft Guidance Note 7A updates Chapter 4 to provide further guidance to boards of directors, senior management, and persons holding the highest authority in accountable institutions regarding their RMCP obligations. The updated Chapter 4 also provides guidance about the documentation describing an RMCP.
Draft Guidance Note 7A was issued for a first round of consultation from 1 April to 2 May 2022 and for a second round from 30 September to 21 October 2022.
The Prudential Authority of the South African Reserve Bank and the FSCA were further consulted on the amendments to Chapter 4.
All comments received have been considered and incorporated in the updated Draft Guidance Note 7A where appropriate, the FIC said in a statement on Tuesday.
The FIC is accepting comments from accountable institutions, supervisory bodies, and other persons on the draft guidance note until the close of business on Friday, 28 June 2024.
Comments must be submitted using the online submission link.
Click here to download the updated version of Draft Guidance Note 7A.
Click here to download Guidance Note 7 (published in 2017), which addresses the implementation of various aspects of the Financial Intelligence Centre Act.
