[Media Release]
The FSCA's 2023/24 Integrated Report has been successfully tabled in Parliament.
The report gives an overview of the FSCAโs performance, covering the period from 1 April 2023 to 31 March 2024:
Crowd 1 is not an authorised FSP, nor a representative of an authorised FSP and there is no record of an application to become an authorised FSP with the FSCA.
@FSCA_ZA
please consider this an official submission for the investigation into Crowd1 in SA via public complaint
- All earnings are generated solely through recruitment of new individuals
- Clear lack of corporate governance
(I will fill in any additional motivating paperwork)
#FSCAWarnings
The FSCA warns the public to be cautious when doing any financial services business with Mr. Themba Selahle also known on social media as xo_grootman.
Read the full warning here:
#TCF
#consumerprotection
They are not authorised to render any financial services as contemplated in the Financial Advisory and Intermediary Services (FAIS) Act. Members of the public are warned to not conduct any financial services business with any individual or entity associated with Crowd 1.
[Media Release]
The FSCA publishes a draft Declaration of crypto assets as a financial product under the Financial Advisory and Intermediary Services Act:
[Media Release]
FSCA announces liquidation of JP Markets and automatic withdrawal of its FSP licence.
Read the full statement here:
#consumerprotection
#TCF
#FSCA
[Media Release]
The FSCA fines Viceroy Research (
#Viceroy
) and its partners R50 million for publishing false and misleading statements about Capitec Bank Holdings Ltd.
Read the full statement here:
#FSCAEnforcements
#TCF
#ConsumerProtection
Financial Literacy 101: Know Your Insurance Policy.
Learn what to look out for and
#AskTheRightQuestions
to ensure that youโre covered during and after this pandemic.
FSCA Commissioner, Unathi Kamlana, ignites the Financial Education Summit with a powerful call to action. He emphasises the transformative power of financial education in driving economic well-being and the urgent need for a united front to reach every South African.
Today the Conduct Standard for Banks has come into effect. Itโs important to know your rights as a banking customer. Learn more about this important milestone for the banking industry:
#FSCA
#KnowYourFSCA
The FSCA has launched a new podcast series called
#FSCA101
!
The first episode was all about retirement funds in South Africa. What are the different types of retirement funds? How are they regulated by the FSCA?
Watch it here:
Mr. Kamlana announces that following the investigation into
#Viceroy
's report on
@CapitecBankSA
, an administrative fine of R50 million has been imposed on Viceroy and its partners by the
#FSCA
.
#FSCARoundtable
#KnowYourFSCA
The FSCA is the market conduct regulator for all financial institutions that provide a financial product and/or service.
We are here ensure that financial firms conduct themselves well, and treat their customers fairly.
#FSCA
#TCF
[Media Release]
The
#FSCA
has, in terms of section 60(1) of the FMA, suspended the exchange licence of ZAR X PTY LTD (ZAR X) effective from 16:00 on Friday 20 August 2021.
Read the full statement here:
#TCF
#CustomerProtection
July is National Savings Month!
The The South African Savings Institute aims to promote awareness around savings and raise awareness of the benefits of short, medium and long term planning.
@MthunziLKDwanya
@LessyJantjie
Good day.
Here are the mandatory guidelines for withdrawal of Debt Review. Please contact the National Credit Regulator (NCR) asap by emailing complaints
@ncr
.org.za or calling 0860 627 627:
[Media Release]
The FSCA confirms its decision to withdraw the license of SALT Asset Management (PTY) LTD in terms of section 9(4)(a)(ii) of the Financial Advisory and Intermediary Services Act, No. 37 of 2002 (FAIS Act).
Read our full statement here:
#FSCARoundtable
Good morning, today the
#FSCA
will be briefing the media on the findings of our investigation into Viceroy Research Partnership (
#Viceroy
).
[Media Release]
The
#FSCA
has imposed an administrative sanction of R16 million on Ashburton Fund Managers (Pty) Ltd (AFM) for failing to comply with certain provisions of the Financial Intelligence Centre Act, No. 38 of 2001 (FIC Act).
[Media Release]
The FSCA has provisionally withdrawn the operating license of Salt Asset Management (Pty) Ltd (FSP Number: 43878), preventing them from conducting business as an FSP under the FAIS Act
#FSCAEnforcements
#RegulatoryActions
#TCF
#WarningWednesdays
The FSCA warns the public to be cautious when dealing with:
1. Trident Global (Pty) Ltd and Mr Richard Clark
2. Arbitrawallet, NTC, Mr Edwin Thabo Letopa, Mr Marius Venter and Mr Sakhile Matsimela
Full warnings here:
#WednesdayWarnings
Have you seen our warning against United African Stokvel ?
The FSCA suspects United African of conducting unauthorised business and breaching certain financial sector laws.
Read it here:
Financial literacy 101: Retirement Fund
Learn what questions to ask your employer, in order to take charge of your financial future.
#AskTheRightQuestions
The FSCA is proud to host the finals of the Financial Literacy Speech Competition (FLSC) this morning promoting financial literacy through its Consumer Education Foundation.
๐ธ: Teto High School (Free State)
#FSCA4You
When it matters most, we are here to ensure that fair customer treatment is at the centre of what financial institutions do for you.
Be Alert. Be Safe. Be Empowered!
#KnowYourFSCA
Sindiswa Makhubalo, Departmental Head: Banks and Payment Providers of the FSCA will be presenting a Masterclass on โHow to verify a broker or FSPโ at the JSE
#Leaderex
2024 conference. She will delve into essential tips to identify legitimate FSPs and safeguard your investments.
Banks must walk the walk and talk the talk.
The Conduct Standard for Banks regulation is in place to ensure banks promote and practice fair treatment toward their financial customers in a disciplined, transparent & consistent manner.
3
#Fintech
The Regulatory Sandbox is a space where market innovators can safely test the regulatory fit of new products & services, under the supervision of relevant regulators.
Here's an infographic on applications received so far:
#IFWG
#InnovationHub
#RegulatorySandbox
This week the Conduct Standard for Banks has come into effect . Itโs important to know your rights as a banking customer.
Learn more about this important milestone for the finance sector:
๐จImportant Notice๐จ
Cryptocurrencies are not regulated in South Africa. Anybody trading in cryptocurrencies in South Africa does so at their own risk.
[INVITATION]
Please join us for our SA Decentralized Finance trends panel discussion with some of the thought leaders in the industry.
To RSVP , you can email: Nokulunga.Ngema
@fsca
.co.za
#FSCAFintech
#DecentralisedFinance
The FSCA is honoured to have Lesetja Kganyago, the Governor of the
@SAReserveBank
, as the keynote speaker at its Industry Conference 2024 on March 13 and 14, 2024.
[MEDIA RELEASE]
The FSCA has approved a further 63 licence applications, bringing the number of licensed Crypto Asset Service Providers (CASPs) in South Africa to 138.
Read the full media statement here:
#Crypto
[Media Release]
The FSCA has published the declaration of Crypto Assets as a financial product under the FAIS Act.
The declaration, brings providers of financial services in relation to crypto assets within the FSCAโs regulatory jurisdiction:
#crypto
The FSCA has a list of options to choose from that can help you find out if you have unclaimed benefits owed to you.
First step, follow this link:
#AskTheRightQuestions
After a countrywide search, gruelling elimination rounds and the most challenging tasks,
#TIA2024
was ready to announce the winner of the 2024 Insurance Apprentice. Congratulations to Temwa Nyirenda!
[LIVE]
Today is the media roundtable for the release of the declaration of crypto assets as a financial product under the FAIS Act.
We will be live-posting the key updates here.
#crypto
#cryotoassets
#FSCATalks
#COVID19
has taught us all the importance of a good savings nest.
No matter how small it seems, start saving today for that rainy day.
Visit our online resource
#fscamymoney
for great tools and tips:
#savingsmonth
The FSCA has published its first
#RegulatoryActions
report.
The report focuses on enforcement interventions taken by the FSCA 1 April 2022 โ 31 March 2023
It is available on the FSCA website: Regulatory Actions Report.pdf
#FSCAEnforcements
#TCF
#FSCACon24
is now live
Join us via live-stream on as we explore and discuss important subjects like South Africa's Greylist Action Plan, digital innovation, governance, and integrating cryptocurrency assets into the financial regulatory system.
๐บ[LIVE STREAM]๐บ
@SAReserveBank
'S Governor Lesetja Kganyago & Finance Minister Enoch Godongwana launch the Corporation for Deposit Insurance (CODI).
#CODI
is a subsidiary of the SARB and part of the countryโs financial sector safety net, safeguarding bank depositors...
#fscawarnings
The FSCA has issued a public warning against Cash FX Group (CFX) which is not registered as an FSP in South Africa or authorised to provide any financial services.
Read the full warning here:
#FSCA
#consumerprotection
#TCF
#ScamWatch
It's almost time for
#KeZaka
Empowering Stokvels and Burial Societies one episode at a time. Ke Zaka is hosted by
@AyandaAllie
& proudly brought to you by the
#FSCA
to improve consumer outcomes through financial education.
#FinancialLiteracy
#CEDza
The FSCA's shortlisting panel invites members of the public to submit comments on the two candidates it intends to recommend to the Finance Minister for consideration for appointment to the position of FSCA Commissioner:
Today we are at the Lakes Hotel & Conference Centre, Benoni for our
#FSCAEnforcementRoadshow
. Our Enforcement division will be sharing different aspects of investigations & enforcement with the members of the public, media & industry stakeholders
#FSCATalks
Just because its
#PaydayWeekend
for some, doesnโt mean you should spend it all or withdraw from ATMS. Be smart with your money, limit working with cash, and do not panic buy.
For more tips on how to budget and save, visit
#FSCAFriday
#ConsumerTips
Day 1 of
#FSCACon24
has been a success.
The great panellists,ย Commissioner Kamlana and SARB Governor shared impactful perspectives on the current regulatory framework, dynamics in the financial sector and the role the FSCA plays in protecting consumers.
A sophisticated AI-generated investment/trading video impersonating prominent South Africans is circulating on social media. Don't be a victimโit's a scam! Report the video.
Be careful of suspicious investment offers, especially those that sound too good to be true.
#ScamWatch
Certificates, medals, tablets & data, prizes up to R30 000 & MORE is to be won at the
#FLSC2021SA
competition!
Not only for the winning Grade 11 learners who enter the competition, but also for the teachers who are part of the competition.
Good luck Grade 11's!
#FLSCFridays
Today, the FSCAโs Executive Leadership Team had a conversation with the Banking sector to discuss many aspects of this sector in 2022 and the role of the Authority, its regulatory strategy and much more.
Below is a recap of the key takeouts of this session
#FSCAConversations
๐ปPODCAST๐ป
FSCA speaks out about copy trading and โsignalsโ
Listen to our DE: Enforcements, Mr, Gerhard van Deventer, on
@jmoyaha_
Market Update show here:
#ScamWatch
#FSCAWarnings
The
#FSCA
reminds consumers that they should not conduct any financial services business with an entity or individual that is not licensed by the FSCA, and should be extremely cautious when offered unrealistic returns.
[Media Release]
FSCA issues revised penalty of R20 million to Mr Markus Jooste in line with the Financial Sector Tribunalโs decision on Insider Trading regarding Steinhoff International Holdings N.V.:
FSCA's Industry Conference 2024, themed "Inspiring Trust: Evolutions in Financial Conduct Regulation," will take place on 13 and 14 March 2024 and
@SAReserveBank
Governor, Lesetja Kganyago, will be the keynote speaker.
#FSCAEnforcement
The FSCA has imposed an administrative penalty of R715 000 and debarred Mr Luan Krige for a period of ten (10) years.
Read full statement here:
The
@FintechHubSA
announces the publication of the IFWGโs CAR WG Position Paper on Crypto Assets.
It is confirmed that crypto assets will be brought into the South African regulatory purview in a phased and structured manner.
#fintech
#cryptoassets
#regulation
#IFWG
#FSCA
The
#FSCA
is proud to host this year's OECD International Conference on Financial Education on 23-24 May 2019. This year's theme is "Financial Education of the Future".
Stay on our page for updates and insights:
#FinEduCon19
#OECDFSCA
Make it your
#ChooseDay
goal to complete 1 hour on the MyMoney learning series every week.
Itโs free and you can gain valuable financial knowledge that will last a lifetime:
#FSCA
#AskTheRightQuestions
Brendon also warns that if person or organisation is not registered with the FSCA, do not trust them. Only trust officially registered financial services/offerings.
#FSCATalks
Crypto's potential is undeniable, but the true value for consumers is yet to be harnessed. The FSCA weighs the benefits and unknowns of this evolving technology.
#FinTechFuture
#Crypto
We were honoured to have
@SAReserveBank
Governor Lesetja Kganyago as our keynote speaker on Day 1 of the FSCA Industry Conference. He highlighted FSCA's crucial function as the apex authority for market conduct and its significant influence on the financial sector.
#FSCACon24