Proposed beneficial owner rules bring fresh scrutiny for financial institutions
Institutions will have to identify and verify owners, assess their honesty and integrity at least every two years, and report beneficial-owner information to regulators.
#AML
Law Society calls for safeguards as AML Bill expands regulatory powers
Its submission to Parliament highlights concerns about lifestyle audits, information sharing, beneficial ownership, and administrative fines.
FIC flags filing errors as RCR deadline closes
Many institutions have left registration too late, submitted the wrong documents, or filed branch returns instead of consolidated legal entity returns.
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Moonstone Compliance’s executive training gives decision-makers the knowledge to manage regulatory risk, exercise effective oversight, and strengthen governance.
FIC warns of penalties after poor RCR compliance
Less than half of the first group of accountable institutions had submitted their returns by mid-July, while submissions from the second group are low.
MBSE expands regulatory exam training with new RE1 programme
Developed in response to industry demand, the online course focuses on building the regulatory knowledge aspiring Key Individuals need for their oversight responsibilities.
SARB fines Southeast Exchange R600 000 for FICA failures
An inspection by the South African Reserve Bank uncovered shortcomings in a foreign exchange dealer’s anti-money laundering compliance framework.
Parliament calls for comment on AML/CFT reform Bill
Stakeholders have until 10 August to comment on proposed amendments aimed at strengthening South Africa’s financial crime framework.
FSCA highlights common CASP compliance failures
The regulator reports steady progress in licensing while sharing lessons from its AML inspections of authorised providers.
RCR compliance falls short as June deadline looms
The FIC says fewer than 12% of accountable institutions facing the first filing deadline had submitted their returns by the middle of this month.
FIC finalises guidance on how to complete the 2026 RCR
PCC 60 largely preserves the draft framework but clarifies how newly registered firms must report and confirms that third parties may not submit returns.
FICA cross-border cash provisions take effect on 1 July
A proclamation brings into operation a set of dormant provisions that link cross-border cash reporting to criminal penalties and forfeiture powers.
Latest FATF review puts South Africa under a harsher spotlight
Treasury says the country already has most of the rules it needs; the challenge now is proving that institutions are using them effectively.
MPs query whether tougher AML laws are solving the problem
Treasury adviser Ismail Momoniat warns that police corruption and unfinished financial-crime cases could weigh on SA’s FATF assessment.
FIC opens portal for submission of risk and compliance returns
The specified accountable institutions have until 30 June or 31 July to complete and submit their RCRs.
CPD deadline looms – make the final hours count where it matters
With 31 May approaching, advisers face a tighter window and higher stakes – choosing CPD that delivers practical value, not just compliance.
R2m fine as FSCA tightens net on unlicensed investment schemes
Twin enforcement actions show sustained pressure on unauthorised operators and market misconduct.
