Unathi Kamlana says the Authority will support the integration of advanced technologies and strengthen frameworks for consumer protection, cyber resilience, and financial inclusion.
The minister’s address to the FSCA conference also touched on regulation, South Africa’s G20 presidency, political tensions over the Budget, and economic growth.
While South Africa is on track to exit the grey list by October, National Treasury emphasises the importance of long-term improvements and continuous progress in financial regulation.
A review finds significant lapses in the banks’ complaint management – from inconsistent categorisation to poor record-keeping and communication.
A survey indicates that while a majority of investment providers incorporate ESG considerations, hurdles such as inconsistent ratings and greenwashing remain.
A decade after the introduction of hedge fund regulations, retail investors are driving strong growth, with RHFs attracting R11.84 billion in net inflows in 2024.
The FSCA’s decision to investigate Anova Wealth and suspend its licence remains in effect after the Tribunal declined the FSP’s applications for reconsideration.
ASISA warns that reclassifying collective investment scheme portfolios as profit-making schemes will undermine years of established investment policy.
FSPs must ensure their representatives operate strictly within their authorised product categories and according to the client’s mandate.
Despite record-breaking global temperatures and escalating climate risks, most South African retirement funds lack climate policies – raising concerns about the long-term sustainability of their investments.
As South Africa’s decentralised finance market gains traction, the FSCA is exploring ways to balance innovation with consumer protection.
Lebohang Funeral Home left policyholders exposed by failing to secure underwriting, misleading clients about their coverage, and refusing to pay a valid funeral claim.
From impersonating financial institutions to AI-generated videos of trusted figures, fraudsters are exploiting technology and social networks to steal investors’ hard-earned money.
FSCA also warns about unauthorised funeral policies being sold by a company in the Western Cape.
South Africa is yet to demonstrate ‘sustained effectiveness’ in investigating and prosecuting serious money laundering and terrorist financing activities
Despite a 20-year debarment, a R143m fine, and even losing a leg in a motorcycle accident, Cobus Geldenhuis is allegedly still defrauding investors under a new alias.
The information will help the Authority to monitor the extent to which insurers are delivering fair outcomes for consumers.
