The Financial Intelligence Centre (FIC) has given stakeholders more time to comment on two draft public compliance communications.
On 15 November, the FIC issued Draft Public Compliance Communication 121 on the definition of beneficial ownership and the application of section 21B of the Financial Intelligence Centre Act.
Read: FIC publishes draft guidance on how accountable institutions can identify beneficial ownership
On Friday, the FIC said the consultation period for Draft PCC 121 has been extended from 8 December 2023 to the close of business on Friday, 16 February 2024.
The Centre said that, to enhance the quality of submissions, it intends to host a public consultation workshop at the end of January to clarify Draft PCC 121.
Commentators should provide their written submissions via this online link.
It said the issuance of PCC 44A is a priority, and no further extension for comments beyond 31 January 2024 is contemplated.
On 23 November, the FIC published Draft PCC 44A, which provides accountable institutions with guidance on the measures aimed at complying with their targeted financial sanctions obligations and a risk-based approach to combating terrorist financing and proliferation financing.
The Centre has extended the consultation period from 11 January 2024 to the close of business Wednesday, 31 January 2024.
Commentators should provide their submissions on Draft 44A using this link.
