Financial Services Board (FSB)
|Postal||PO Box 35655, Menlo Park, 0102|
|Physical||Riverwalk Office Park, Block B, 41 Matroosberg Road, Ashlea Gardens, Extension 6, Pretoria, 0081|
|Tel||012 428 8000 / 0800 110 443|
|Fax||012 346 5616|
OverviewThe 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.