Regulatory Alerts2025-01-16
Aldes Capital Administrative Sanction Notice
The Financial Sector Conduct Authority issued an administrative sanction against Aldes Capital (Pty) Ltd for non-compliance with the Financial Intelligence Centre Act regarding employee training and client identity record keeping. The regulator imposed a total financial penalty of R15,000, comprising R10,000 for inadequate training and R5,000 for missing identity records, payable by 28 February 2020. Aldes Capital must ensure ongoing employee training on the FIC Act and Risk Management Compliance Programme while maintaining client identity records for at least five years, with non-payment enforceable as a civil judgment.
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