The Financial Sector Conduct Authority (FSCA) is the regulatory body responsible for market conduct regulation and supervision of financial institutions in South Africa. Established under the Financial Sector Regulation Act of 2017, the FSCA aims to ensure a fair, efficient, and stable financial market that supports consumer protection and financial stability.
Key Functions and Responsibilities
- Regulatory Supervision: The FSCA oversees a wide range of financial institutions, including banks, insurers, retirement funds, and market infrastructures. It ensures that these entities comply with relevant laws and regulations.
- Consumer Protection: A core mission of the FSCA is to protect consumers by promoting fair treatment by financial institutions and providing financial education to help consumers make informed decisions.
- Market Integrity: The FSCA works to maintain and enhance the integrity and efficiency of financial markets in South Africa through proactive regulation, supervision, and enforcement actions.
