FIC Directive 10: Mandatory Geographic Location Reporting for Accountable Institutions

Posted 17 August 2026 Written by Acts Online
Category Financial Intelligence Centre

Brought to you by SA Accounting Academy: The Financial Intelligence Centre (FIC) has issued Directive 10, imposing mandatory geographic location reporting obligations on accountable institutions.

In terms of section 43B(2) of the Financial Intelligence Centre Act, No. 38 of 2001 (FICA), the FIC has published Directive 10 requiring designated accountable institutions listed in Schedule 1 to provide geographic data regarding their group structures when registering with the Centre or updating their existing profiles.

Directive 10 came into effect on its gazetted date of 31 July 2026. Accountable institutions registered prior to this date have a 90-day transition period, establishing a compliance deadline of 29 October 2026 to capture and submit the required data through the FIC registration system.

Scope and Geographic Reporting Requirements

Affected accountable institutions must provide verified geographic location details for:

  • The institution’s head office;
  • All domestic and international branch offices;
  • The head office of each domestic and foreign subsidiary; and
  • All branch offices of such subsidiaries.

The objective of the directive is to establish the complete geographic footprint and group structure of accountable institutions for supervisory and risk assessment purposes.

Sanctions for Non-Compliance

Failure to submit or update the required location data by 29 October 2026 constitutes non-compliance under section 43B(2) of FICA. Defaulting institutions face administrative sanctions in terms of section 45C, read together with section 61A of the Act, which may include formal reprimands, directives to take remedial action, or financial penalties.

Click here to download the Directive 10 Gazetted Document.

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

  • For yourself: Ensure you understand the expanded registration data requirements under Directive 10 if you serve as the designated FICA compliance officer or registration administrator for an accountable institution.
  • For your business: If your practice is a Schedule 1 accountable institution (such as an accounting, auditing, legal, or financial advisory firm), audit all domestic and foreign branches/subsidiaries and update your registration profile on the FIC portal before the 29 October 2026 deadline.
  • For your clients: Advise Schedule 1 corporate clients to map their subsidiary and branch networks immediately to ensure timely filing and avoid administrative penalties under section 45C of FICA.

Originally published at https://accountingacademy.co.za/news/read/fic-directive-10-on-information-pertaining-to-geographic-locations-of-accountable-institutions

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