Regulatory Alerts2011-05-20
Added · Updated
FIAU Implementing Procedures in terms of the Prevention of Money Laundering and Funding of Terrorism Regulations Part 1
Part I of the Implementing Procedures issued by the FIAU comes into force immediately and is binding on all subject persons as defined in the Prevention of Money Laundering and Funding of Terrorism Regulations. A transitory period ending on 30th September 2011 is granted to allow subject persons to align their procedures with these requirements. Subject persons must submit their first Annual Compliance Report on the dates specified in Section 6.11 starting from 2012. Additionally, subject persons supervised by a regulatory or supervisory authority are no longer required to inform that authority when making a disclosure to the FIAU.
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