Regulatory Alerts2019-08-01
Reporting Explanatory Note for Estate Surveyors and Construction Firms
The regulatory authority has issued an explanatory note outlining standardized reporting requirements for Designated Non-Financial Institutions (DNFIs) filing statutory reports. The framework mandates estate surveyors, construction firms, and similar entities to systematically document client identities, property transactions, payment modes, and monetary values using specified formats for dates, addresses, and identification documents. By standardizing these data fields, the directive ensures accurate tracking of currency transactions, cash-based activities, and agency commissions across all reporting entities.
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