Directives 21
Draft Directive 12 - On the submission of risk management and compliance programmes
Draft Directive 12 – On the submission of risk management and compliance programmes (page 1)
This directive cross-references 4 linked laws.
Consultation draft - not in force
This item is marked as draft or consultation material. It is kept for lineage and review, but should not be treated as binding guidance unless a final instrument is separately verified.
Relationships in
No relationships recorded.
Relationships out
No relationships recorded.
Linked legislation
Cross-references
Low confidenceFinancial Intelligence Centre Act 38 of 2001
"This Directive applies to accountable institution listed in Item 1, 2, 3, 9, 11 (excluding bank, mutual bank, and co-operative bank credit providers), 14, 20, 21 and 22 of Schedule 1 of the Act."
Cross-references
Low confidenceFinancial Intelligence Centre Act 38 of 2001 43A
"This Directive is issued in terms of section 43A(1) of the Financial Intelligence Centre Act, 2001 (Act No."
Document
FOR CONSULTATION PURPOSES ONLY
**DRAFT DIRECTIVE 12 IN TERMS OF SECTION 43A(1) OF THE FINANCIAL INTELLIGENCE CENTRE ACT ON THE SUBMISSION OF RISK MANAGEMENT AND COMPLIANCE PROGRAMMES**
1. This Directive is issued in terms of section 43A(1) of the Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001) (FIC Act).
2. The purpose of this Directive is to specify the manner and timeframe within which specified accountable institutions are required to submit a copy of the documentation describing their Risk Management and Compliance Programme (RMCP) to the Financial Intelligence Centre (Centre) in accordance with section 42(4) of the FIC Act.
3. This Directive enables the Centre to monitor accountable institution levels of compliance with the FIC Act, as envisioned in terms of section 4(c) of the Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001) (Act).
4. This Directive applies to accountable institution listed in Item 1, 2, 3, 9, 11 (excluding bank, mutual bank, and co-operative bank credit providers), 14, 20, 21 and 22 of Schedule 1 of the Act.
5. Every accountable institution subject to this Directive must make a copy of the documentation describing its RMCP available to the Centre according to the time period as set out in Annexure A on an annual basis.