Regulatory Alerts2025-02-19
Draft Conduct Standard on Requirements for Financial Institutions Providing Consumer Financial Education
The Financial Sector Conduct Authority has issued a consultation report finalizing a mandatory Conduct Standard that establishes minimum requirements for financial institutions providing consumer financial education initiatives. The revised framework clarifies definitions, mandates proportional reporting and evaluation measures to accommodate varying institutional sizes, and permits branding while prohibiting marketing of specific financial products within educational content. Following feedback from fifteen industry stakeholders, the Authority implemented a twelve-month transitional period and confirmed that enhanced compliance costs will ultimately improve program quality, measurability, and financial literacy across South Africa.
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