Regulatory Alerts2023-09-28
Jannie Parsons Future Financial (Pty) Ltd Notice of Sanction
The Financial Sector Conduct Authority issued an administrative sanction against Jannie Parsons Future Financials (Pty) Ltd for non-compliance with the Financial Intelligence Centre Act. The firm faces penalties totaling R870,000 due to failures in developing a Risk Management and Compliance Programme, verifying customer identities, and screening clients against targeted financial sanctions lists. The regulator mandates an immediate payment of R400,000 by 31 December 2022 and suspends the remaining R470,000 for three years provided full compliance is maintained.
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