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Obligation register

South Africa

Register overview

Reviewed evidence for the retained instruments. The wider curated handbook remains in review.

Assess in workspace
Collected provisions
1236
Independently reviewed
1235
Held for review
1
Included instruments
20

Individual retail-bank journey

Prepare the bank, open the account only when CDD can be completed, then monitor, report and retain records.

1. Bank readiness

12 supporting provisions

Action: The bank needs a documented and implemented risk management and compliance programme (RMCP), approved by its board or senior management. Train employees in the Act and RMCP, meet FIC registration and information-update duties, and screen prospective and current employees periodically for competence and integrity on a risk-based basis. Directive 8 also requires employee sanctions scrutiny on the specified Director notice, documented methods and outcome records available to the FIC or supervisor on request. These are bank-level controls, not extra customer documents.

Next: Compliance owner: confirm the RMCP and applicable registration status. Separately, PA supervisory guidance recommends a documented business-risk methodology, senior-management approval of the assessment, issue tracking and gap remediation. For a new product or technology adopted by the institution, that guidance says risk assessment must precede launch or use; it is not a freestanding statutory duty.

Next step: Identify the customer

Supporting obligations and context

Scenario conditions and retained editions

RegCanary implementation explanation, not a bank licensing checklist and not a universal document package.

Evidence details