Regulatory Alerts2025-01-16
Atisa Securities Notice of Administrative Sanction – February 2020
The Financial Sector Conduct Authority issued an administrative sanction against Atisa Securities (Pty) Ltd for failing to establish and verify client identities under the Financial Intelligence Centre Act. The regulator imposed a twenty thousand rand financial penalty, comprising an immediate ten thousand rand payment and a suspended balance conditional on continued compliance over three years. Atisa Securities must urgently rectify non-compliant accounts, update its Risk Management and Compliance Programme, provide ongoing employee training, and may appeal the decision within thirty days.
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