CATEGORIES
- (4) Negotiating Tax Debt and Payment Arrangements with SARS
- (2)Account / Profile
- (552)Accounting
- (2)Accounting and Finance
- (29)Audit
- (159)Auditing and Assurance
- (1)Business
- (1)Business Management
- (3)Business Rescue
- (103)CIPC
- (7)Compliance
- (18)Ethics and Professionalism
- (46)Financial Reporting
- (1)Government Funding Applications
- (4)Guides
- (1)Individuals Tax
- (29)Law
- (37)Legal and Compliance
- (2)Management
- (17)Miscellaneous
- (29)Money Laundering
- (1)Personal & Professional Development
- (2)Practice Management
- (2)Professional Ethics
- (3)Public Sector
- (145)Regulatory Compliance and Legislation
- (41)SARS Issues
- (29)Sustainability Reporting
- (42)Tax
- (1)Tax Update
- (9)Technology
- (1)Wills, Estates & Trusts
- Show All
FIC: Draft PCC 122 – SPVs
- 20 March 2026
- Miscellaneous
- South African Accounting Academy
Summary:
The Financial Intelligence Centre’s (FIC) has issued draft public compliance communication 122 (Draft PCC 122) on Special Purpose Vehicles (SPVs) for comment.
Article:
Draft PCC 122 is aimed at providing guidance to special purpose vehicles as accountable institutions under item 11 of Schedule 1 of the FIC Act, of the applicability of the FIC Act requirements.
Draft PCC 122 also highlights threats and vulnerabilities faced by special purpose vehicles and provides risk indicators that can be considered when determining money laundering, terrorist financing and proliferation financing (ML, TF and PF) risks presented in their direct or indirect client engagements.
Deadline for comments was 16 March 2026.
Click here to download the 11-page Draft PCC:
Relevance to Auditors, Independent Reviewers & Accountants:
- Auditors, Independent Reviewers and Accountants should be aware of the latest publications and guidance issued by regulators, such as the FIC – to enable their assessment of accountable institutions’ compliance with FICA.
- When advising clients or performing this function on their behalf, practitioners should be aware of the finer details and specific guidance on Special Purpose Vehicles (SPVs) that are accountable institutions.
Relevance to Your clients:
- Relevant Accountable Institutions (companies and CCs) should be aware of the latest publications and guidance issued by regulators, such as the FIC.