Regulatory Alerts2022-07-06
FSCA Communication 20 of 2022 (FAIS) – Draft Amendment to FAIS Ombud Rules
The Financial Sector Conduct Authority (FSCA) published a draft amendment increasing the FAIS Ombud compensation limit from R 800,000 to R 3.5 million. This change addresses inflation and market realities while aligning the FAIS Ombud with other sector ombuds to ensure adequate complainant restitution. Interested parties must submit comments on the draft notice by 19 August 2022 using the published email template.
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