The Financial Intelligence Centre (FIC) recently issued Directive 10 of 2026, introducing a new requirement for specified accountable institutions to provide information regarding their geographic locations as part of their FIC registration records. This information will assist the FIC in identifying operational structures, assessing geographic risk exposure, and enhancing its monitoring and supervisory activities.
Who is affected?
Directive 10 applies to accountable institutions registered under the following Schedule 1 items of the FIC Act:
- Legal practitioners (Item 1)
- Trust and company service providers (Item 2)
- Estate agents/property practitioners (Item 3)
- Gambling institutions (Item 9)
- Credit providers, excluding banks, mutual banks and co-operative bank credit providers (Item 11)
- Post Bank (Item 14)
- High-value goods dealers (Item 20)
- The South African Mint (Item 21)
- Crypto Asset Service Providers (CASPs) (Item 22)
Institutions falling within these categories should assess whether they operate from multiple locations and update their registration records within the prescribed timeframes.
Key deadlines
For accountable institutions already registered with the FIC as at 31 July 2026, the required geographic location information must be submitted within 90 days, meaning the deadline is 29 October 2026.
The obligation is not a once-off requirement. After the initial submission, institutions must update the information within 90 days of any change to the details previously provided.
What information must be provided?
Where an accountable institution operates from more than one geographic location, information must be submitted regarding:
- The institution’s head office;
- Each branch office located in South Africa or abroad;
- The head office of each subsidiary located in South Africa or abroad; and
- Each branch office of a subsidiary located in South Africa or abroad.
For each applicable location, the following information must be provided:
- Name of the office or branch;
- Licence number, where applicable;
- Registration number, where applicable;
- Full business address; and
- Name and contact details of the person responsible for the compliance function.
The required information must be submitted through the FIC’s goAML registration and reporting platform. Failure to comply with Directive 10 constitutes non-compliance with the FIC Act and may expose an accountable institution to regulatory action.
Directive 10 highlights the FIC’s continued focus on obtaining accurate and comprehensive information from accountable institutions to support effective risk-based supervision. Institutions affected by the Directive should begin preparations early to ensure timely and accurate compliance with the new requirement.