FIC: Draft Directive on Additional Registration Information

Posted 22 December 2025 Written by Acts Online
Category Financial Sector

Brought to you by SA Legal Academy: The Financial Intelligence Centre (FIC) has published a draft directive requiring accountable institutions to provide expanded registration information regarding their group structures and geographic presence.

In terms of section 43B of the Financial Intelligence Centre Act, No. 38 of 2001 (FICA), the FIC has invited public comment on a draft directive concerning the registration of accountable institutions. The proposed directive aims to enhance the FIC’s oversight by requiring entities to disclose detailed information regarding their head office, branches, and subsidiaries, both within and outside the borders of South Africa.

The primary objective of these additional requirements is to enable the FIC to accurately determine the geographic location and footprint of group structures. This development follows the November 2022 amendments to the schedules of the Financial Intelligence Centre Act, No. 38 of 2001, which significantly expanded the scope of accountable institutions to include:

  • Attorneys;
  • Advocates; and
  • Juristic entities as contemplated in the Legal Practice Act, No. 28 of 2014.

Stakeholders and interested parties have until 13 February 2026 to submit their comments on the draft directive to the FIC.

What this means for you, your business, or your clients

  • For yourself: No direct individual obligations; impact is channelled through firm-level compliance and reporting requirements.
  • For your business: Accountable institutions must prepare to audit and document their full corporate structure, including international branches and subsidiaries, for submission to the FIC via the goAML platform to ensure registration records remain accurate.
  • For your clients: Clients of newly included accountable institutions, such as legal practitioners, may face more rigorous onboarding and geographic risk assessments as firms align with these enhanced transparency requirements.

Originally published at https://legalacademy.co.za/news/read/financial-intelligence-centre-additional-registration-information-proposals-out-for-comment

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