Regulatory Alerts2018-10-09
Memorandum of Understanding between the South African Reserve Bank and the Financial Sector Conduct Authority
The South African Reserve Bank and the Financial Sector Conduct Authority have executed a Memorandum of Understanding to formalize their cooperation and information sharing regarding financial stability, payment services, and foreign exchange transactions. Mandated by the Financial Sector Regulation Act, 2017, the agreement delineates their respective regulatory and supervisory roles while establishing mechanisms to minimize duplication of effort and resolve operational conflicts. The document further outlines specific collaborative frameworks through dedicated annexures governing payment system oversight and systemic risk monitoring between the SARB’s National Payment System Department and Financial Stability Department and the FSCA.
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