Financial Services Board (FSB)

Contact Details

Physical: Riverwalk Office Park, Block B, 41 Matroosberg Road, Ashlea Gardens, Extension 6, Pretoria, 0081
Postal: PO Box 35655, Menlo Park, 0102
Tel: 012 428 8000 / 0800 110 443
Fax: 012 346 5616
Web:

Overview

The Financial Services Board's (FSB) mission is to promote the fair treatment of consumers of financial services and products; financial soundness of financial institutions; systemic stability of financial services industries; and integrity of financial markets and institutions.

The Board's strategic objectives are to: build internal capacity to supervise an outcome-based regulatory framework as opposed to the traditional compliance-based frameworks, which requires a new supervisory approach that is more pre-emptive, and skills to proactively identify emerging conduct risks (at macro and micro level); apply the regulatory and supervisory frameworks to a broader range of financial services, including banking (as part of the broader twin peaks migration); create an operational and effective framework, with annual milestones; assign elements of the national consumer education strategy assigned to the FSB; improve coordination and communication with all stakeholders through interaction to improve the service from regulated institutions; fully implement a stakeholder management programme; implement and maintain a communication, brand and reputation management strategy; ensure a regulatory framework in line with international standards; enforce compliance with legislation; effectively supervise financial service providers; ongoingly review the framework to identify gaps; effectively enforce legislative compliance; implement risk-based supervisory plans; adequately resource the FSB to deliver on the strategic plan; provide a comprehensive internal policy framework; provide effective systems and processes; and provide a knowledge management system for optimal performance.

Office Bearers/Management

Chairperson
Mr A Sithole
Chief Executive Officer
Adv D Tshidi

Chairperson:
Mr Abel Sithole
Deputy Chairperson:
Ms Hilary Wilton
Board Members:
Ms Zarina Bassa
Mr Francois Groepe
Mr Olano Makhubela
Ms Jabu Mogadime
Ms Dudu Msomi
Mr Hamilton Ratshefola
Prof Philip Sutherland
Ms Diana Turpin
Chief Executive Officer:
Adv Dube Tshidi
Chief Financial Officer:
Mr P Kekana
Chief Operations Officer:
Mr Gerry Anderson (Acting)
Senior Management:
Mr J Boyd (DEO: CIS)
Ms C Da Silva (DEO: FAIS)
Mr J Dixon (DEO: Insurance)
Mr M Du Toit (Chief Actuary)
Ms T Ramuthaga (Chief Information Officer)
Communications Officers:
Tembisa Marele

Financial Information

All Financial Values: R'0002015/162014/152013/142012/13
 
AUDIT OUTCOMEClean AuditFinancially UnqualifiedFinancially UnqualifiedClean Audit
 
FINANCIAL POSITION
Current Assets323 631267 685196 546187 678
Non-Current Assets113 306100 88092 00677 222
Total Assets436 937368 565288 552264 900
Current Liabilities107 21187 23867 60673 782
Non-Current Liabilities48 87346 56736 62835 961
Total Liabilities156 084133 805104 234109 744
Total Net Assets280 853234 759184 318155 156
 
FINANCIAL PERFORMANCE
Total Revenue705 673635 027585 750539 340
Revenue from Exchange Transactions78 13168 84553 57047 388
Revenue from Non-Exchange Transactions627 542566 182532 180473 965
Total Expenditure(659 580)(575 124)(556 588)(522 989)
Employee Costs(361 266)(320 607)(307 564)(277 295)
Surplus/(Deficit) for Year46 09459 90229 16216 351
 
CASH FLOW
Net Cash Flows from Operating Activities85 20169 14028 23015 855
Net Cash Flows from Investing Activities(21 078)(10 601)(15 178)(6 166)
Cash & Cash Equivalents at End of Year302 916238 793180 254167 203
 
UIFW EXPENDITURE
Unauthorised Expenditure----
Irregular Expenditure-1 642--
Fruitless & Wasteful Expenditure----
 
HUMAN RESOURCES
Posts Approved611581n/an/a
Posts Filled542519511n/a
 
SourcesAnnual ReportAnnual ReportAnnual Report n/a

Overseeing Department/Entity

Annual Reports


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