Position and Policy Papers

The Financial Sector Conduct Authority (FSCA) regulates and supervises the market conduct of financial institutions in South Africa. The mandate of the FSCA is to enhance and support the efficiency and integrity of the financial system, and to protect financial customers. As stated in section 57 of the Financial Sector Regulation Act (No. 9 of 2017), this includes promoting the fair treatment of financial customers by financial institutions. The Executive Committee (EXCO) of the FSCA oversees the operations of the organisation. The EXCO comprises the commissioner and three deputy commissioners, all of whom are appointed by the Minister of Finance. For optimal efficiency, agility and sustainability, the FSCA is structured into 10 divisions, each one headed by a divisional executive that reports to EXCO. Divisions are further organised into various departments and specialised units, as depicted in the organogram. The FSCA's Regulatory Strategy addresses: The FSCA liaises with national, regional and international regulatory authorities to build collaborative efforts for the exchange of information and best practice. Our regulatory cooperation and collaboration is enabled through various bilateral and multilateral memoranda of understanding (MoUs). Furthermore, the FSCA is a member of IOSCO, IOPS, IAIS, FSI, FATF, OECD, FSB, AFI, and Finconet. We seek to provide an effective and efficient procurement service to the Financial Sector Conduct Authority (FSCA) and its stakeholders through procurement best practices and optimal resource management, in compliance with the FSCA policies and relevant procurement regulatory framework. The FSCA is committed to affirmative procurement consistent with the South African Constitution and the approved DTI Codes of Good Practice issued in terms of the BBBEE Act No. 53 of 2003. Annual and integrated reports The FSCA’s annual reports are tabled in Parliament in September and published on our website annually in October. We initially followed traditional annual reporting, and then progressed to integrated reporting in 2023. The annual reports of our predecessor, namely the Financial Services Board (FSB) and its registrars, are also available here. The FSB ceased to exist on 31 March 2018, due to the Twin Peaks financial sector regulatory reforms. The FSCA has six core divisions namely: the Licensing and Business Centre, Regulatory Policy, Conduct of Business Supervision, Market Integrity, Retirement Funds Supervision, Investigations and Enforcement. We also have specialised support departments such as, Human Resources, Financial Management, Legal, Communications and Language Service, Facilities and Security, ​​Governance, Risk and Assurance (​GRA), Supply Chain Management and Information Communications and Technology, to support the core divisions. This page provides mechanisms that you can use to exercise your rights in terms of Protection of Personal Information Act No 4 of 2013 (POPIA) and Promotion of Access to Information Act No 2 of 2000 (As amended)​ ​(PAIA), and to socialize any POPIA/PAIA related communication issued by the FSCA in their capacity as a responsible party. The FSCA takes your privacy very seriously. The FSCA aims to ensure inclusivity and increase its reach at all times. We have a language services unit that assists with communication, interpretation, translation and publication, as outlined in the FSCA Language Policy . Licensing is a critical component in the regulatory framework and serves a key function in the supervision value chain. It provides an entry point for applicants before they are allowed to conduct business as a financial institution. It is therefore essential that licensing systems be efficient and robust. It is important to note that the principle of proportionality applies, to ensure that there is no “one-size-fits-all” licensing approach. The approach and the requirements must be proportionate to the risks underlying the business activities of different ent