What is the Financial Services Board (FSB) of South Africa? Financial Services Board (FSB) of South Africa Review, Features

The Financial Services Board (FSB) of South Africa is an independent body established by law, responsible for regulating the non-bank financial services industry in South Africa and protecting the public interest.

About the Financial Services Board (FSB)

Financial Services Board (FSB)

The FSB is an independent institution established by law, responsible for supervising the non-bank financial services industry in South Africa and protecting the public interest. Its mission is to promote and maintain a healthy and sound financial investment environment in South Africa.

Objectives of the Financial Services Board (FSB)

The FSCA was established to be the dedicated market conduct regulator within South Africa’s twin peaks regulatory model implemented through the Financial Sector Supervision Act. Our responsibilities include all financial institutions that provide financial products and/or financial services as defined in the Financial Sector Supervision Act. The FSCA’s mission is expressed through the following strategic objectives:

Ensure the stability of financial markets;

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

Responsibilities of the Financial Services Board (FSB) of South Africa

1. Ensure that consumers are in a safe investment environment and are treated fairly when trading with financial service providers.

2. FSB protects South African citizens from fraud by illegal profit-making institutions. Through FSB, you can know whether the company you are trading has FSB authorization, because only FSB-authorized traders can provide financial products.

3. Note: FSB is not responsible for pyramid scheme incidents.

4. Non-bank financial services industries regulated by the FSB include pension funds, short-term & long-term insurance, securities investment insurance (unit trusts and stock markets) and financial advisors and agents.