FICA Risk and Compliance Return
A reminder that specified accountable institutions must comply with Directive 6 of 2023 by submitting a FICA Risk and Compliance Return (RCR). Although the deadline to submit the RCR was 31 May 2023, there are many entities that have not yet submitted the RCR. The portal for submission remains open.
The FIC recently sent out letters to specified accountable institutions advising of their non-compliance and to immediately submit the outstanding RCRs. The FIC confirmed that the failure to submit an RCR as directed can lead to administrative action.
The following accountable institutions are reminded to submit the RCR if not yet completed:
- Item 1 – Legal Practitioners
- Item 2 – Trust and Company Service Providers
- Item 3 – Estate Agents
- Item 9 – Gambling sector
CPD clock is ticking
FSPs, KIs and Reps are reminded that the deadline to comply with the required number of CPD hours is 31 May 2024. Masthead offers various accredited CPD activities. For more information, please get in touch with Masthead on info@masthead.co.za or contact your Compliance Officer.