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BENEFICIAL OWNERSHIP: REVISED DRAFT COMPLIANCE COMMUNICATION OUT FOR COMMENT
- 14 June 2024
- Financial Sector
- SA Legal Academy
Please note: On 18 June 2024, a notice was published extending the deadline for input to 5 July 2024.
The Financial Intelligence Centre has released a revised draft compliance communication on beneficial ownership – calling for input by 21 June 2024.
Reflecting comments received on a first draft published in December 2023, the document focuses on requirements under the General Laws (Anti-Money Laundering & Combating Terrorism Financing) Amendment Act, 2022, for determining the ownership and control of an accountable institution’s clients where such clients are legal (not natural) persons, trusts, partnerships or non-profit organisations.
- revised draft compliance communication
- notice calling for input
- summary of comments on first draft
Published by SA Legal Academy Policy Watch
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