Regulatory Alerts2022-07-04
Ravensberg (Pty) Ltd Consent Order on Financial Penalty Variation
The Financial Sector Conduct Authority issued a consent order with Ravensberg (Pty) Ltd that varies the regulator’s February 2022 financial penalty of R780,000. The agreement suspends R505,000 for three years contingent on continued compliance with designated Financial Intelligence Centre Act sections, while mandating payment of the remaining R275,000 by 30 April 2022. The appellant may further reduce the payable amount by applying its previously submitted appeal fee toward the penalty.
Share