Beneficial ownership is one of South Africa’s most talked-about FICA topics, and the FIC has lowered the UBO identification threshold from 25% to 5%. But correctly identifying a UBO goes beyond checking who holds shares. You need to apply the dilution method, screen against sanctions and PEP databases, and meet your CIPC Beneficial Ownership Register obligations. Non-compliance with the FIC Act carries penalties of up to R50 million, and in serious cases, R100 million and imprisonment of up to 15 years.
Join nCino KYC webinar and walk away with the clarity, confidence, and practical tools to get your UBO process right.
Key Discussion Topics
- What is a UBO and who qualifies?
- How to apply the 5% threshold in practice
- The dilution method and how to use it
- PEP, sanctions and adverse media screening for UBOs
- Your obligations under the CIPC Beneficial Ownership Register
- Consequences of non-compliance with the FIC Act
- How nCino KYC can help
Tune into the webinar for longer than 45 minutes to earn a certificate of attendance.
Secure Your Spot Now: https://ncino.zoom.us/webinar/register/3517827208822/WN_VMcSBFOiS_mxHyLvW-KaXQ
Also See:
- Guide to Identifying Ultimate Beneficial Owners (UBOs): https://share-eu1.hsforms.com/1qKv8SgKZS66o3_F5BDTmtAetu2j
- Available FICA Training: https://kycafrica.ncino.com/solutions/training-and-webinars/#calendar
- FICA compliance for High-Value Goods Dealer (HVGD): https://kycafrica.ncino.com/industries/high-value-goods-dealers/
