Exchange Control Circular No. 18/2020

Circular Reference: Exchange Control Circular No. 18/2020

Circular Date: 9 December 2020

Circular Status: Pending

Amendments to the Currency and Exchanges Manual for Authorised Dealers

Flowing from representations made, Authorised Dealers are advised of the following amendments to the Currency and Exchanges Manual for Authorised Dealers (Manual).

Section A.3(C)(ii)

The subsection has been amended as follows:

(ii) Digital copies of the documents must be retained for a period of five years by Authorised Dealers for inspection purposes. Authorised Dealers should also point out to their clients that original documents must be retained for a period of five years for inspection purposes.

Section B.1(F)(viii)

The subsection has been amended as follows:

(viii) Digital copies of the documents must be retained for a period of five years by Authorised Dealers for inspection purposes. Authorised Dealers should also point out to their clients that original documents must be retained for a period of five years for inspection purposes.

The amended Manual as well as guideline documents may be accessed on the South African Reserve Bank website: www.resbank.co.za by following the links: home > financial-surveillance > financial-surveillance-documents > manuals.

Head of Department: Financial Surveillance

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