FSPs sanctioned for FICA failures – fines totalling R700 000
The FSCA found both firms lacked effective risk management capabilities, including deficient RMCPs, poor customer due diligence, and failures to screen against the sanctions lists.
#FinancialSectorConductAuthority
FSCA urges whole-of-market push to combat soaring digital fraud
The Authority signs an agreement with SABRIC and the Southern African Fraud Prevention Service to enable a faster system-wide response to scams.
How COFI will affect the retirement funds industry
COFI replaces the registration model with a conduct-focused licensing regime for retirement funds – a step that will raise governance, fit-and-proper checks and public disclosure requirements across the sector.
‘Clean data is the golden thread’ behind effective retirement supervision
The FSCA’s Zareena Camroodien provides a comprehensive overview of regulatory developments and strategic goals affecting the retirement sector.
Proactive regulation key to market integrity, says Kamlana
The FSCA is closing the prudential gap between banks and non-bank OTC derivative providers, signalling higher capital and risk-management standards.
FST upholds FSCA’s revocation after employer trustees excluded from vote
The Tribunal agrees with the Authority that the rule amendment was void because the employer-appointed trustees were asked to leave the meeting during the deliberations.
FSCA publishes comprehensive Conduct Standard for CIS managers
The Conduct Standard establishes mandatory risk, compliance and internal audit functions, plus notification and approval requirements for key appointments.
Former FSCA executive’s name forged in $150 000 surety bond scam
The FSCA has issued a series of warnings about schemes involving the impersonation of FSPs and a deepfake video featuring Springbok captain Siya Kolisi.
Authorities developing Joint Standard on cloud computing and data offshoring
The FSCA and PA publish recommended best practices, urging financial institutions to adopt a risk-based approach aligned with their size and complexity.
How FSPs and consumers can fortify against online risks
Nine steps financial services and crypto asset providers can take to curb the deceptive use of their name and branding.
Moonstone Compliance takes the stress out of FSP licensing
Providers believe they can go it alone, only to be overwhelmed by the FSCA’s requirements. Moonstone Compliance provides tailored, expert guidance from start to finish.
Strengthening South Africa’s sustainable finance framework
The FSCA’s Sustainable Finance Programme seeks to harmonise local markets with global ESG standards – focusing on taxonomy, disclosure, reporting and investor education to bolster climate resilience.
Lack of full and frank disclosure sinks FSP’s licence application
The Tribunal agrees with the FSCA that the entity’s key individual did not ‘come clean’ about her past misconduct.
FSCA eases section 14(1) rules for retail retirement fund transfers
The final Notice removes confusing references to section 14(8), but calls for a wholesale carve-out of retail-to-retail transfers were turned down.
FSCA can serve penalty notices electronically on foreign respondents
As a result of the declarator, the High Court ordered the Tribunal to revisit its decision regarding the R50m fine imposed on Viceroy Research.
Do fines deliver justice for victims of financial misconduct?
The FSCA’s success in collecting penalties remains uneven because of several structural and legal challenges.
FSCA publishes 2025–2028 Regulation Plan to guide financial sector reform
A top priority is supporting National Treasury in finalising COFI and rolling out the themed frameworks.
