ADLAs include bureaux de change, independent money transfer operators and value transfer service providers.
The Currency and Exchanges Manual for Authorised Dealers in foreign exchange with limited authority contains the permissions and conditions that apply to foreign exchange transactions that may be undertaken by ADLAs and/or on behalf of their clients in terms of Exchange Control Regulation 2(2), details of related administrative responsibilities, the Financial Surveillance Department’s reporting requirements as well as the requirements of the Financial Intelligence Centre Act, 2001 applicable to ADLAs. The manual must be read in conjunction with the Exchange Control Regulations, 1961. ADLAs may transact without referring to the Financial Surveillance Department, provided such transactions are permitted in terms of the manual.
The FinSurv Reporting System aims to ensure accurate and comprehensive reporting of all transactions data by Authorised Dealers and ADLAs in order to:
FinSurv has embarked on a renewal programme branded as 1FinSurv to re-engineer the FinSurv business processes as well as replace a number of key information technology solutions currently being utilised within FinSurv.
FinSurv Reporting System extranet site
The website can be accessed here.
The Business and Technical Specifications and the Operations Manual must be read in conjunction with section J of the Currency and Exchanges Manual for Authorised Dealers or section C.1 of the Currency and Exchanges Manual for Authorised Dealers in foreign exchange with limited authority. The Reporting System Certification and Inspection Guideline provides reporting entities with a guideline of the certification and inspection procedure for their reporting system and reconciliation module.
Section A.1 – Definitions
Section A.2 – Diagrams
Section A.3 – Introduction and objectives
Section B.1 – Reporting rules
Section C.1 – Integrated form and categories
Section C.2 – International headquarter companies
Section D.1 – Technical specifications
Section D.2 - Import Verification System
Section E.1 – Validations rules
Section E.2 – Error codes
Section A.1 – Introduction
Section A.2 – Definitions
Section B.1 – Integrated form and reporting system fields
Section B.2 – Reporting without non-resident counter parties and bulking payments
Section B.3 – Categories
Section B.4 – International headquarter and South African holding companies
Section B.5 – Import Verification System
Section B.6 – Export control numbers
Section B.7 – Reporting of direct reporting entities, Authorised Dealer and ADLA transactions
Section B.8 – Reporting of non-reportable and interbank transactions
If you have further questions about Authorised Dealers in foreign exchange with limited authority, please do not hesitate to contact us.