When we put together this newsletter, we are cognizant that we need to stop and take stock of all that has happened this quarter. As a regulator the reality is that we cannot focus on a particular moment for too long before the next thing that needs attention pops up. As busy as the industry we regulate keeps us, it always warms the heart to see the industry treating customers better, and joining us in our mandate of protecting financial customers. This newsletter provides us with a platform and an opportunity to share updates on the work.

This edition kicks off with rounding up the FSCA’s big stories from the quarter, and some links for you to indulge further. As we all know, the Financial Action Task Force (FATF) recently announced its decision to place South Africa on its grey list. In this edition we explore what this means for our country. Our piece titled A New Era for Retirement Funds in South Africa highlights some of the outcomes from of the recent FSCA Retirement Funds Conference. Speaking of Retirement Funds, we caught up with Zareena Camroodien, one of the Conference panellists to understand her role as Head of the Retirement Funds Supervision: Fund Governance and Trustees Department at the FSCA.

The supervision of the conduct of financial institutions within the South African landscape is an essential function of the FSCA,  and engaging with the sector is valuable. Find out what happened when the FSCA in collaboration with the Compliance Institute Southern Africa (CISA) held a first of its kind Conduct Risk Supervision Seminar. The Financial Intelligence Centre also unpacks ways of Improving the understanding of Beneficial Owner Obligations in a very insightful article.  

And then last but not least of an eventful quarter was the Business Week webinar and panel discussions about the importance of financial literacy. This was hosted by the FSCA’s Consumer Education department for the benefit of small businesses and households, and to help them become resilient during South Africa's current financial situation.

We trust that you will find the content very insightful, and we would like to thank you for the feedback received. Please continue to provide feedback as we love hearing from you about ways to improve the newsletter. To contribute articles or information to the FSCA newsletter, email it to publications@fsca.co.za and it shall be done. Until next time, stay safe.

Tembisa Marele