Please take note of the following updates in the industry.

From the FIC...

  • A call for comments on Draft Guidance on Money Laundering, Terrorist Financing and Proliferation Financing Risk Considerations relating to Geographic Areas - PCC110, has been issued.
    • Comments are due on Friday, 27 November 2020 
    • Draft PCC110 aims at providing suggested resources that can be referred to when determining the ML/TF risk related to geographic areas as well as providing guidance on certain  ML/TF/PF risk considerations.


  • A call for comments on a consultation paper, Draft Guidance on the measures required to mitigate the potential loss of Intelligence Data due to reporting failures – PCC111, has been issued. 
    • The comments are all due on Friday, 18 December 2020. 
    • Draft PCC111 provides reporters with clarity and direction they must take to mitigate the loss of intelligence data in terms of Directive 3 of 2014- the remediation of reporting errors and the prevention of reporting failures.


From the FSCA...

A general notice on the Reclassification of inward listed debt and derivative instruments as well as exchange traded funds referencing foreign assets has been issued.

This communication serves as confirmation to stakeholders that the South African exchange remains extant on inward listing of all instruments, and further guidance will be provided from the FSCA.