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FSCA Integrated Report for FY2024/25

The 2024/25 Integrated Report of the Financial Sector Conduct Authority (FSCA) has been successfully tabled in Parliament and published on the Authority’s website. The report provides an overview of the FSCA’s performance during the period between1 April 2024 and 31 March 2025, detailing how the Authority creates and preserves value in the short, medium and long term. It also highlights the FSCA’s strategic priorities as outlined in the Authority’s three-year Regulation Plan; operational matters; regulatory interventions; governance and financial information.

The FSCA’s prudent financial management practices enabled it to deliver on its public mandate in a financially sustainable manner. In executing its responsibilities, the Authority continued to uphold high ethical standards and strong governance, reinforcing its commitment to long-term sustainability. In line with this commitment, the FSCA maintained its clean audit outcome and reported revenue of R1,2 billion and a net surplus of R202 million for the financial year.

During the year under review, the Authority strengthened its conduct of business and market integrity regulatory frameworks; embedded a more risk-based and data-driven supervisory approach and took firm action against misconduct — all aimed at bolstering confidence and trust in South Africa’s financial sector.

“This report is testament to the hard work that FSCA staff put into the period under review. While we continued to focus on our supervision and enforcement responsibilities, we remained committed to regulating in a way that supports innovation, inclusion, and sustainability in the financial sector,” said FSCA Commissioner, Unathi Kamlana.

Some of the highlights of the FSCA’s 2024/25 report include the successful rollout of the two-component retirement system; granting licences to 779 financial service providers FSPs) – 111 more than last year and of which 264 were for crypto asset service providers (CASPs); issuing 131 debarment orders; and concluding 633 investigations (compared to 418 in the previous period). Furthermore, the authority imposed R119m in penalties and fines.

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