Regulatory Alerts2025-03-26
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FSCA Consultation Report on Conduct Standard for Financial Institutions Providing Financial Education Initiatives
The Financial Sector Conduct Authority (FSCA) issued a consultation report finalizing a conduct standard that requires financial institutions to deliver compliant, measurable consumer education initiatives while prohibiting excessive branding and product-specific marketing. The revised framework clarifies key definitions, aligns reporting obligations to prevent duplication, and applies proportionally so smaller institutions can implement simplified controls. After a twelve-month transitional period, these mandates will standardize financial education quality and expand consumer access despite anticipated increases in compliance costs.
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