FIC: Draft PCC 5E on Registration of Accountable Institutions

Posted 26 March 2026 Written by Acts Online
Category FICA

Brought to you by SA Accounting Academy: The Financial Intelligence Centre (FIC) has issued draft Public Compliance Communication (PCC) 5E to provide guidance on expanded registration requirements for accountable institutions.

In terms of section 43B of the Financial Intelligence Centre Act, No. 38 of 2001 (FICA), every accountable institution is required to register with the FIC and provide such information as the Centre may require. Draft PCC 5E, read in conjunction with draft Directive 10 of 2025, establishes the practical procedures for complying with additional registration obligations concerning the geographic locations of an institution’s subsidiaries and branches.

The draft communication specifically addresses the following regulatory requirements:

  • The mandatory registration of domestic and foreign-based subsidiaries and branches on the FIC’s online reporting platform.
  • The process for acquiring login credentials for businesses that have suspicious and unusual transaction reporting obligations under FICA.
  • The continuous obligation to update registration information as required by section 43B.

Accountable institutions are reminded that failure to register or failure to provide and update required information may result in administrative sanctions in terms of section 61A of the Financial Intelligence Centre Act, No. 38 of 2001.

Comments on draft PCC 5E must be submitted to the FIC by no later than the close of business on Friday, 27 March 2026.

Click here to download Draft PCC 5E: Registration of Accountable Institutions

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

  • For yourself: No direct individual obligations; impact is channelled through the professional’s responsibility to ensure their firm or client remains compliant with FICA registration protocols.
  • For your business: If your firm is an accountable institution, you must prepare to disclose the exact geographic locations of all domestic and foreign branches and subsidiaries on the FIC reporting platform.
  • For your clients: Advise clients who are accountable institutions of the 27 March 2026 deadline for comments and the risk of administrative sanctions under section 61A for failing to maintain accurate geographic registration data.

Originally published at https://accountingacademy.co.za/news/read/fic-draft-pcc-5e-registration-of-ais-and-their-geographic-locations

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