FIC Request for Information Update

In a directive published last week, the Financial Intelligence Centre (the FIC) requested all institutions registered with it to update their details on the FIC’s electronic platform.

In order to verify that your information is correct, please use your login details and password and update the changes on the FIC’s website:

Queries on this and other compliance matters can be directed to 0860 222 200 or by e-mail to

Are you an Accountable Institution?

The term “accountable institution” is defined as a person referred to in Schedule 1 of the Financial Intelligence Centre Act.

The Schedule 1 definitions include one which refers to “…a person who carries on the business of a financial services provider to provide advice and intermediary services in respect of the investment of any financial product (but excluding a short-term insurance contract or policy and a health service benefit provided by a medical scheme)”.

In other words, if your FSP is authorised to render financial services on any financial product other than short-term products and/or health benefits, it will be classified as an accountable institution.

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