Financial Sector Conduct Authority (FSCA)
Contact Details
| 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 203 722 |
| Web | www.fsca.co.za |
Overview
The Financial Sector Conduct Authority (FSCA) was established by the Financial Sector Regulation Act 9 of 2017 (the FSR Act) to become a dedicated market conduct authority replacing the Financial Services Board (FSB), on 1 April 2018.
The FSCA’s mandate is to: enhance the efficiency and integrity of financial markets; promote fair customer treatment by financial institutions; provide financial education and promote financial literacy; and assist in maintaining financial stability. The FSR Act extends the jurisdiction of the FSCA to include oversight of financial products and services not overseen by the FSB banking; services related to credit; and the buying and selling of foreign exchange. It also dictates a shift in approach from the FSB’s traditional compliance driven model to one that is proactive, pre-emptive, risk-based and outcomes focused. Crucially, the FSR Act includes financial inclusion and transformation of the financial sector in its overall objectives. The FSCA’s six priority strategic focus areas for the next three years are: building a new organisation; an inclusive and transformed financial sector; a robust regulatory framework that promotes fair customer treatment; informed financial customers; strengthening the efficiency and integrity of our financial markets; and understanding new ways of doing business and disruptive technologies.
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