From CompliNEWS | Financial Service Intelligence Watch
FSCA issues final request for completion of Directive to Provide Information (DPI) for 2024
The Financial Sector Conduct Authority (FSCA) has released FSCA Communication 40 of 2024, reminding accountable institutions under its supervision of the final opportunity to complete and submit the Directive to Provide Information (DPI 2024) as required by the Financial Intelligence Centre Act 38 of 2001 (FIC Act). The DPI 2024 will be available for online submission from 4 November 2024 to 29 November 2024 via the FSCA’s FAIS and CIS e-portals.
The FSCA requests that all accountable institutions that previously failed to submit or only partially completed the DPI 2024, initially published in Communication 20 of 2024 on 27 May 2024, ensure full compliance in this period. Failure to submit by the 29 November 2024 deadline will constitute a contravention of the FIC Act and could result in administrative penalties.
Institutions are reminded of their obligations under section 43A(3) of the FIC Act to provide required information and reports. The FSCA encourages institutions to review Communication 20 and the accompanying FAQ document available on the FSCA website for further guidance on completing the DPI 2024.