Archive for Nov 2010

CASH TRANSACTIONS OVER R25.000 – NEW FICA REPORTING DUTIES FOR AGENTS, BROKERS ETC

FICA (the Financial Intelligence Centre Act) has always obliged a long list of “accountable and reporting institutions” to report any “suspicious” transactions to the Centre. That obligation has now been extended to every cash transaction – “suspicious” or not – over R25.000. Note that “cash” in this respect includes foreign currency and traveller’s cheques, and…

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SEMINAR ON THE CONSUMER PROTECTION ACT

We will be holding a seminar early in the New Year to clarify the protections and obligations arising out of this new legislation which may affect you or your business. Promulgation has been delayed until 1 March 2011 and this will give us an opportunity to assist you in readying your business in good time.…

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