Another quarter, of course means another issue of the FSCA Newsletter in reflection of what we have been up to as the regulator in the past few months. This for us is an important platform in our endeavour of increasing the level of engagement with the industry we regulate as well as the public at large. Now a couple of months into implementing our new Regulatory Strategy, some of the activities we have been up to show that we are well on our way to achieving the defined objectives. 

In this issue we unpack the recently published Financial Sector Outlook Study, an insightful review of the South African financial landscape under the FSCA’s jurisdiction, with the spotlight on key developments and trends in South Africa’s banking sector. 

We also get to know FSCA Deputy Commissioner Farzana Badat a bit better as she shares snippets of who she is and her thoughts on various regulatory matters.  

Leading the FSCA’s drive to intensify meaningful engagements with stakeholders and ever from the front is our Commissioner, Unathi Kamlana who recently hosted members of the insurance industry. Catch a glimpse of the discussions that took place during that session.

In May, Ubank Limited was placed under curatorship, an option that proactively seeks to mitigate any likely adverse consequences for Ubank's depositors and preserve stability of the banking sector as a whole. What happened? How did this come about? Read as we contemplate what this development entails for both the bank and its customers alike.

The Annual Pension Lawyers Association (PLA) Conference also took place in this quarter, and our Commissioner was duly invited to address delegates and introduce the FSCA leadership, unpack the FSCA’s new Regulatory Strategy as well as the upcoming Retirement Funds strategy.

All these and then some in this exciting edition. Thank you for your continuous support on this journey of bringing you compelling and relevant information. Be part of our list of contributors, please email your article to publications@fsca.co.za  

Until next time, stay safe, warm and inspired!