Regulatory Alerts2022-06-30
FSCA Regulation Plan 1 April 2022 to 31 March 2025
The Financial Sector Conduct Authority (FSCA) issued a three-year regulatory framework workplan for 1 April 2022 to 31 March 2025 that mandates the consolidation and harmonization of South Africa’s financial sector rules. The plan requires the implementation of the Conduct of Financial Institutions (COFI) Bill and amendments to the Financial Markets Act, while introducing targeted conduct standards for insurers, retirement funds, collective investment schemes, and financial advisors. By prioritizing risk-based, customer-focused initiatives and cross-cutting themes like cybersecurity and open finance, the FSCA will transition existing regulations into a unified framework that reduces regulatory arbitrage and aligns with international standards.