On 7 June 2019 Rebosa held an industry update session and invited Anastasia Haji-Pavlou to update agents on the requirements of the Financial Intelligence Centre Amendment Act.
Click Here to watch the talk
A transitional period was granted by the Financial Intelligence Centre (the FIC) to enable full compliance with the new requirements of the FIC Act to be achieved by the sector. This transitional period ended on 1 April 2019. Therefore, effective 1 April 2019 all estate agency enterprises must ensure full compliance with the provisions of the FIC Act.
The Act has far reaching consequences for estate agency firms who do not comply including a financial penalty not exceeding R10 million in respect of natural persons and R50 million in respect of any legal person.
About the Speaker
Anastasia is a director, practicing attorney, conveyancer and notary based at the Illovo branch of STBB. Anastasia opened and managed the firm’s Hout Bay branch before relocating to Johannesburg and opening the Johannesburg office in 2008. Anastasia now manages the Illovo branch and runs her own retail transfer department from here. Anastasia has become a very well-known conveyancer and respected trainer and public speaker in Johannesburg, and is responsible for the training of agents in several agencies in in the greater Gauteng area.