What is the Financial Sector Conduct Authority (FSCA) of South Africa? Financial Sector Conduct Authority (FSCA) of South Africa Review, Features

The Financial Sector Conduct Authority (FSCA) of South Africa was established to be the dedicated market conduct regulator within South Africa’s twin peaks regulatory model implemented through the Financial Sector Supervision Act.

About the Financial Sector Conduct Authority (FSCA) of South Africa

• The FSCA's authorisations include all financial institutions that provide financial products and/or financial services as defined in the Financial Sector Supervision Act.
• The FSCA may, as part of its ongoing responsibility to monitor compliance by financial institutions with financial sector laws, take appropriate remedial and enforcement action where a financial institution fails to comply with the law. These actions include applying to the court to place an institution under administration or impose administrative penalties, as appropriate. A person who is dissatisfied with a decision may apply to the court for a review of that decision.

The FSCA's mission is expressed through the following strategic objectives:

• Ensure the stability of financial markets;
• driving financial sector transformation to improve access;
• Promoting fair treatment of financial customers through a sound regulatory framework;
• Providing financial education and knowledge so that customers are informed; and
• Help maintain the efficiency and integrity of financial markets through innovation.

Vision of the Financial Sector Conduct Authority (FSCA) of South Africa

Build a fair, efficient and resilient financial system that supports inclusive and sustainable economic growth in South Africa.

mission

The FSCA’s mission is to promote an inclusive, customer-centric and competitive financial sector where:

• Financial customers have access to innovative and appropriate products and services and are empowered to make financially capable and informed decisions;
• Fair, effective and efficient functioning of financial markets and proactive and responsive regulation, supervision and enforcement result in responsible financial institutions.

Values

1. Excellence: We set high standards for ourselves and strive to perform our functions with professionalism.
2. Integrity and Accountability: We are transparent, honest, fair and consistent in our actions and decisions.
3. Collaboration: We work together in a spirit of consultation, cooperation, mutual respect and trust.
4. Agility: We respond quickly, innovatively, and intelligently to changing needs and circumstances.
5. Sustainability: We meet the needs of the present without compromising the ability of future generations to meet their own needs by adopting socially responsible practices.