Beneficial Ownership 2025 Update
Presenters : Caryn Maitland CA(SA)
Overview
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) 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.
Learning objectives
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.
Content
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.
-