All terms Glossary
PPRA
The Property Practitioners Regulatory Authority, which licenses estate agencies and issues Fidelity Fund Certificates.
The Property Practitioners Regulatory Authority licenses estate agencies and individual property practitioners, and issues the Fidelity Fund Certificate every one of them needs to trade.
The PPRA doesn’t enforce FICA directly (that’s the FIC’s job), but it’s made FFC renewal conditional on FICA compliance, which is what makes the two regimes practically inseparable for an estate agency.
See it in practice, not just in theory.
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Related terms
FFC (Fidelity Fund Certificate)The certificate the PPRA issues that a property practitioner must hold to trade legally, now conditioned on demonstrable FICA compliance.
FICA (Financial Intelligence Centre Act)The South African law requiring accountable institutions to verify clients, keep records, and report suspicious activity, in order to combat money laundering and terror financing.
Browse the rest of the glossary
Accountable Institution AML (Anti-Money Laundering) Beneficial Owner (BO) CDD (Client Due Diligence) CIPC FIC (Financial Intelligence Centre) KYC (Know Your Customer) PEP (Politically Exposed Person) RMCP (Risk Management and Compliance Programme) Sanctions Screening Source of Funds STR (Suspicious Transaction Report)