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FSCA

Novare CIS fined R30 000

The Registrar of Collective Investment Schemes as he was referred to in section 7 of the Collective Investment Schemes, 45 of 2002(CISCA) referred a case against Novare CIS (RF) (Pty) Limited (the Respondent) to the Enforcement Committee of the Financial Services Board, the latter being the predecessor of the Financial Sector Conduct Authority (FSCA). In […]

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FSCA

Bye bye FSB, hello FSCA

By Shayne Krige, direct and head of invesemtns funds at Werksmans Attorneys.​ As of 1 April 2018, there is a new sheriff for the South African financial services sector. The Financial Services Board (FSB) has been replaced by the Financial Sector Conduct Authority (FSCA).  Here are five things you need to know about this development. The change from the […]

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Minister of Finance, Mr Nhlanhla Nene

Minister Nene launches two authorities that make up Twin Peaks system

This week, the Minister of Finance, Mr Nhlanhla Nene, launched the two authorities that make up South Africa’s new Twin Peaks system of financial regulation. The launches represent the culmination of a journey of regulatory reform announced in the 2011 policy document, A safer financial sector to serve South Africa better. Two closed functions for […]

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FSCA

FSB officially takes up new mandate as FSCA

The Financial Services Board (FSB) has officially taken up its new mandate as the Financial Sector Conduct Authority (FSCA), effective 1 April 2018. “This marks the formal implementation of the Twin Peaks model of financial sector regulation, as envisaged in the Financial Sector Regulation Act 2017 (FSRA),” the FSCA said in a media statement today. […]

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Treasury

New twin peaks regulators established

On 1 April 2018, South Africa’s financial regulatory system will fundamentally change, as two new regulators come into operation – the Prudential Authority (PA) and the Financial Sector Conduct Authority (FSCA). This implements a new Twin Peaks model of financial sector regulation in South Africa. National Treasury said in a statement today that the Minister […]

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