Public Compliance Communications 16
PCC 42 - Guidance on S29 reports and supervisory bodies
The objective of this PCC is to provide guidance to accountable institutions, reporting institutions and/or other reporters, that the production of a copy of a report and/or the furnishing of information or facts of a report made in terms of section 29 of the FIC Act, can only be provided to specific supervisory bodies, under specified conditions. (page 3)
This public compliance communication cross-references 10 linked laws.
Relationships in
No relationships recorded.
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Cross-references
Low confidenceGuidance Note 4B - Reporting STRs to the FIC
""Section 29 report" refers to any report submitted in terms of section 29 of the FIC Act to the Centre (refer to Guidance note 4B)."
Linked legislation
Cross-references
Low confidenceFinancial Intelligence Centre Act 38 of 2001 2
""The Centre" means the Financial Intelligence Centre established in terms of section 2 of the FIC Act."
Cross-references
Low confidence
Document
FIC
Financial Intelligence Centre
PUBLIC COMPLIANCE COMMUNICATION
PUBLIC COMPLIANCE COMMUNICATION
No 42 (PCC 42)
ON THE DISCLOSURE OF FACTS OR INFORMATION CONTAINED IN SECTION 29 REPORTS, OR PROVIDING A COPY OF SUCH A REPORT TO A SUPERVISORY BODY IN TERMS OF SECTION 29(3) AND SECTION 45(B)(2B) OF THE FINANCIAL INTELLIGENCE CENTRE ACT, 2001 (ACT 38 OF 2001)
PUBLIC COMPLIANCE COMMUNICATION No. 42 (PCC 42) ON SECTION 29 OF THE FINANCIAL INTELLIGENCE CENTRE ACT BY ACCOUNTABLE AND REPORTING INSTITUTIONS
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PCC SUMMARY
Inspectors appointed by the Financial Intelligence Centre (Centre), the Financial Sector Conduct Authority (FSCA) or the South African Reserve Bank (SARB) including designated supervisory bodies within the SARB, who conduct inspections for the purpose of determining compliance with the FIC Act, may in terms of section 45B of the FIC Act order an accountable institution, reporting institution and/or other reporter under inspection, to produce a copy of a report, or furnish a fact(s) or information regarding a section 29 report in terms of the FIC Act that the institution submitted to the Centre. These inspectors perform the supervisory function in terms of the FIC Act and the inspected institutions should give them access to the required section 29 report information.