It’s been just over a year since we started implementing our new regulatory approach, and work is progressing in all our key strategic focus areas. In this issue of the FSCA Newsletter 2019/20 we give you an update on this progress and highlight some of the key developments that have taken place during this time. One of them is our new Integrated Regulatory System, which is intended to provide a single view of the entities we regulate. This will make your reporting so much easier and allow us to get a better sense of your operations.

The FSCA’s mandate has been extended as you know to include the supervision of the conduct of banking institutions. We recently published our draft Conduct Standard for Banks, which aims to introduce requirements that promote the fair treatment of financial customers for banks.

It will effectively balance out principle-based and rules-based requirements to ensure that banks deliver these fair customer outcomes in a manner that is disciplined, transparent and consistent when providing financial services and products to customers.

We provide an update regarding the establishment of the Financial Services Tribunal Office, which has been set up to reconsider decisions of, or omissions to take such decisions, by a financial sector regulator, authorised financial services provider, statutory ombud or market infrastructure.

This issue is in dedication to some of the significant steps we are taking as we chart the way to achieving our objectives and in reassurance to the financial services industry and our financial customers that the FSCA is working hard to be a regulator that is better placed to serve them.

Editor: Tembisa Marele