The Financial Sector Conduct Authority (FSCA) is a supervisory organization in Johannesburg / South Africa, established on 1 April 2018 with the 9th Financial Sector Regulation, replacing the Financial Services Board (FSB) as a special market behavior authority.
The FSCA’s mission is to increase the efficiency and integrity of financial markets; promote fair customer treatment by financial institutions; providing financial education and promoting financial literacy; and maintain financial stability. The FSR Law extends the FSCA’s jurisdiction to include oversight of financial products and services such as credit-related services and foreign exchange trading, which are not controlled by the FSB. It also identifies the transition from the FSB’s traditional compliance-oriented model to a proactive, preventive, risk-based and result-oriented approach.
Over the coming years, following focus areas was declared by the FSCA;
- A strategic organization, such as building a new organization, an inclusive and transformed financial sector,
- A strong regulatory framework that encourages fair customer treatment
- Create knowledgeable financial customers,
- Strengthen the efficiency and integrity of our financial markets,
- Understand new ways of doing business and destructive technologies.