This webinar explores the vital importance of Beneficial Ownership compliance in helping companies fulfill their legal obligations under the Companies Act, FICA, and the Trust Property Control Act. It offers practical strategies to overcome challenges in identifying beneficial owners, maintaining compliance, and mitigating professional liability and reputational risks.
Join Caryn Maitland CA(SA) on the 25th of March 2025 from 10h00 to 12h00 for this insightful session, where she will break down key compliance requirements, share expert guidance and equip you with the tools to confidently navigate the complexities of Beneficial Ownership regulations.
By attending this webinar you will gain the following competencies and knowledge:
Understand the legal framework governing Beneficial Ownership, including the Companies Act, Financial Intelligence Centre Act (FICA), and Trust Property Control Act.
Identify and verify beneficial owners, including challenges with layered ownership structures, trusts, and nominee arrangements.
Recognise the importance of corporate governance in Beneficial Ownership compliance and its role in financial crime prevention.
Develop practical compliance strategies, including reporting to the CIPC, conducting due diligence, and maintaining accurate records.
Mitigate professional risk exposure by implementing best practices that protect accountants from liability and regulatory scrutiny.
The webinar will cover the following topics:
Understanding Beneficial Ownership Compliance
Defining Beneficial Ownership, distinguishing between legal and beneficial owners, and understanding its role in AML and corporate governance.
Legal and Regulatory Framework
Compliance requirements under the Companies Act, FICA, and Trust Property Control Act, as well as South Africa’s obligations under FATF regulations.
Identifying and Verifying Beneficial Owners
Addressing challenges in tracing complex ownership structures, trusts, foreign entities, and nominee arrangements.
Practical Challenges Faced by Practitioners
Navigating client resistance, non-disclosure issues, and difficulties in obtaining accurate ownership records.
Professional Accountants’ Exposure to Risk
Understanding legal liability, reputational risks, and regulatory expectations for accountants in Beneficial Ownership compliance.
Corporate Governance and Compliance Strategies
Strengthening internal controls, director responsibilities, and financial transparency through Beneficial Ownership reporting.
Practical Tips for Compliance
Implementing effective due diligence, record-keeping, and accurate reporting to CIPC while avoiding common mistakes.
Consequences of Non-Compliance
Risks of deregistration, financial penalties, regulatory scrutiny, and professional disciplinary action for failing to comply with Beneficial Ownership regulations.
Caryn Maitland is a Chartered Accountant (SA). She has been a member of IRBA as a registered auditor and accountant since 2002 and is also a registered member of SAICA.
Caryn has lectured Auditing and Accounting at various institutions and has conducted independent workshops and seminars for professional accountants since 2006 on various topics. She has presented on the national tour for the annual Legislation Update with ProBeta Training (Pty) Ltd in 2014 and 2015, as well as on the FASSET national tour for the Tax Administration Act in 2014. Caryn is also involved with the annual SAICA SMP Technical tour.
The following persons will benefit from attending this webinar:
Advocates.
Attorneys.
Estates administrators.
Corporate Legal Professionals.
Legal Academic.
Candidate attorneys.
Law Students.
Paralegals.
R 450.00 - Online admission - Individual.
Group Price 1 - From R337 per person (up to 5 users)
Group Price 2 - From R260 per person (up to 10 users)
Group Price 3 - From R224 per person (over 11 users)
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By attending this webinar you will be provided with:
A summarised slide presentation.
Reference documents and/ or course material where available.
You can ask questions during the webinar and you will also have access to the presenter after the webinar.
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