By Nomthandazo Mtshweni – Communications Department (FSCA)
The Financial Sector Conduct Authority (FSCA) recently launched the FSCA Enforcement Roadshow, an inaugural series of events that provide insight into the regulatory actions of the FSCA and provide opportunity for engagement with the financial sector and the media.
The roadshow is run by the Enforcement Division led by Divisional Executive Gerhard van Deventer.
The first leg of the three-part roadshow was held at The Lake Conference & Hotel in Johannesburg, on 28 February 2024. It enjoyed excellent industry support, with attendance of over 500 guests.
The second and third legs of the roadshow took place in Cape Town and Durban on 17 and 20 March respectively, and were also well attended.
After Deputy Commissioner Katherine Gibson gave the welcoming address, roadshow guests were informed about the work done by the division, the processes followed, as well as trends that have emerged.
The FSCA Enforcement team gave presentations on topics of interest to the industry, focusing mainly on matters covered in the 2023 Regulatory Actions Report published last year.
The report not only provides insight into the activities of the FSCA’s enforcement effort between 1 April 2022 and 31 March 2023, but also serves to augment credible deterrence through visible enforcement, create awareness of regulatory requirements and the FSCA’s expectations for embedding good conduct and ensuring fair outcomes for customers.
The report therefore highlights emerging trends and risks, and provides case studies to illustrate principles and provide practical, real-life application.
Given the overwhelming positive response from industry, the FSCA looks forward to more, similar fruitful engagements. It envisages hosting another round of regulatory roadshow events, this time to discuss the 2024 Regulatory Actions Report which is due to be published in June.
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