Please take note of the following updates in the
industry.
From the FIC...
A call for comments on Draft
Guidance on Money Laundering, Terrorist Financing and
Proliferation Financing Risk Considerations relating to
Geographic Areas - PCC110, has been issued.
Comments are due
on Friday,
27 November 2020
Draft
PCC110 aims at providing suggested
resources that can be referred to when determining the ML/TF
risk related to geographic areas as well as providing
guidance on certain ML/TF/PF risk considerations.
A call for comments on a consultation paper,Draft
Guidance on the measures required to mitigate the potential
loss of Intelligence Data due to reporting failures – PCC111,
has been issued.
The comments are
all due on Friday,
18 December 2020.
Draft
PCC111 provides reporters with clarity
and direction they must take to mitigate the loss of
intelligence data in terms of Directive 3 of 2014- the
remediation of reporting errors and the prevention of
reporting failures.
From the FSCA...
A general notice on the Reclassification
of inward listed debt and derivative instruments as well as
exchange traded funds referencing foreign assets has been issued.
This communication serves as confirmation to stakeholders that the
South African exchange remains extant on inward listing of all
instruments, and further guidance will be provided from the FSCA.
