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The Financial Sector Conduct Authority (FSCA) has imposed an administrative penalty of R350 000.00 on Thembnkululeko Construction (Pty) Ltd (Thembnkululeko) for failing to comply with certain provisions of the Financial Intelligence Centre Act, No. 38 of 2001 (FIC Act). Thembnkululeko is a licensed financial services provider (FSP) under the Financial Advisory and Intermediary Services Act, …
The Financial Sector Conduct Authority (FSCA) welcomes the judgment delivered by the Gauteng Division of the High Court on 23 March 2026, which interdicted Fusion from issuing its construction guarantees and confirmed the FSCA’s longstanding position that registration under the National Credit Act 34 of 2005 (“NCA”) by a party issuing guarantees does not exclude …
The National Treasury, Financial Sector Conduct Authority, and National Consumer Financial Education Committee invite organisations and individuals to participate in Money Smart Week South Africa (MSWSA) 2026, taking place from 24 to 30 August 2026. This year’s campaign will be held under the theme “Money Smart: The Power of Possible”. The key MSWSA objective is …
The Financial Sector Conduct Authority (FSCA) has imposed an administrative penalty of R2 000 000 (two million rand) on Acqumen Fund Limited (Acqumen Fund) and its director, Mr Mohamed Ebrahim Amod (Amod), jointly and severally. The FSCA further debarred Mr Amod for a period of 12 years and Mr Junaid Ebrahim Salejee (Salejee) for a …
The Financial Sector Conduct Authority (FSCA) has imposed an administrative penalty of R200 000 on Khanyazania Holdings (Pty) Ltd (Khanyazania Holdings) and its directors, Mr Simiso Anthony Manatha (Manatha) and Mr Nqobi Ephraim Thwala (Thwala), jointly and severally. It further imposed an administrative penalty of R200 000 on Azania Investors (Pty) Ltd (Azania Investors) and …
The Financial Sector Conduct Authority (FSCA) has published two documents under its Sustainable Finance Programme of Work: the FSCA Sustainable Finance Update Report 2026 and a Discussion Paper on ESG Rating Services and Data Providers. The Discussion Paper is released for public consultation. The FSCA Sustainable Finance Update Report 2026 outlines progress made during the …
Clientèle Life, Sanlam and their subsidiaries collect R143-million every month for funeral policies directly from SASSA pension and disability grants
The Financial Sector Conduct Authority (FSCA) has imposed an administrative penalty of R710 000 on QuickTrade (Pty) Ltd (Quicktrade) for failing to comply with certain provisions of the Financial Intelligence Centre Act, No. 38 of 2001 (FIC Act). Quicktrade (FSP 45262) is a licensed financial services provider (FSP) under the Financial Advisory and Intermediary Services …
The Financial Sector Conduct Authority (FSCA) has imposed an administrative penalty of R12.6 million on The Relocations Group (Pty) Ltd (The Relocations Group) and Mr Kyle Bary Tiltman (Mr Tiltman), jointly and severally, and has also debarred Mr Tiltman for 15 years. This enforcement action follows an investigation into complaints from clients, which revealed that …
The Financial Sector Conduct Authority (FSCA) has debarred Mr Songeziwe Mbalo (Mbalo) for a period of 20 years and imposed administrative penalties of R9 million on Mbalo and Bhaca Green (Pty) Ltd (Bhaca Green), jointly and severally. A penalty of R50 000 has also been imposed on Mr Lungile Mgilane (Mgilane). The regulatory action follows …
The Financial Sector Conduct Authority (FSCA) has made final the provisional withdrawal of the licence of Afrimarkets Capital (Pty) Ltd (FSP 52813) (Afrimarkets). The FSCA provisionally withdrew the licence of Afrimarkets on 4 July 2025, pursuant to preliminary findings made during an investigation into Afrimarkets’ conduct. Afrimarkets was subsequently afforded an opportunity to make representations …
Masjamplan (Pty) Ltd and Medbond Fund Managers (Pty) Ltd The Financial Sector Conduct Authority (FSCA) has imposed an administrative penalty of R197 million on Medbond Insurance Brokers (Pty) Ltd (Medbond Insurance) and Mr Jacobus Meyer (Meyer), jointly and severally. A further R5 million has been imposed on Medbond Markets (Pty) Ltd (Medbond Markets), Medbond Fund …
The Financial Sector Conduct Authority (FSCA) has imposed administrative penalties of R2 billion on Banxso (Pty) Ltd (Banxso), and its directors Mr Harel Adam Sekler (Sekler), and Mr Warwick David Sneider (Sneider), jointly and severally. A further R16 million has been imposed on Banxso for other contraventions. The Authority has also imposed a fine of …
The Financial Sector Conduct Authority (Authority) has withdrawn the financial services provider (FSP) license of Medbond Markets (Pty) Ltd (Medbond Markets) and Medbond Insurance Brokers (Pty) Ltd (Medbond Insurance Brokers). Medbond Insurance Brokers was previously authorised as a Financial Services Provider (FSP) to render advice and intermediary services in respect of Category I financial services. …
The Financial Sector Conduct Authority (FSCA) is warning the public to exercise caution when conducting financial services business with persons claiming to be associated with JSE Private Placements (Pty) Ltd (JSE Private) (FSP number 51709). It has come to the FSCA’s attention that an entity known as AI JSE Pro is using the FSP number …
The Financial Sector Conduct Authority (FSCA) and the Prudential Authority (PA) have jointly published their inaugural report, Artificial Intelligence in the South African Financial Sector. This report provides the first comprehensive overview of AI adoption, including machine learning (ML) and generative AI (GenAI), within South Africa’s financial institutions. Informed by a survey of banks, insurers …
The Financial Sector Conduct Authority (FSCA) has noted a concerning increase in the number of individuals and entities impersonating both the FSCA and licensed Financial Services Providers (FSPs), including prominent public figures and corporate executives, in efforts to defraud the public. Impersonation of the FSCA: An individual falsely claiming to be a “Chief Executive Investigator” …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when engaging in financial services transactions with individuals claiming to be associated with TSB Securities (Pty) Ltd (FSP number 18047) and Thebe Investment Corporation (Pty) Ltd (Thebe Investment). It has come to the FSCA’s attention that Mr Sphesihle Cele (Mr Cele), also operating …
The FSCA has issued a public warning regarding the impersonation of Visio Fund Management Pty Ltd and Mr Tassin Meyer. The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with persons purporting to be associated with financial services provider (FSP) Visio Fund Management Pty Ltd (Visio Fund) …
The Financial Sector Conduct Authority (FSCA) hereby informs the public that it is currently conducting an investigation in respect of the persons listed below (investigated parties): Imermarket (Pty) Ltd (Imermarket) trading as Inversacapital. Imermarket is an authorised financial services provider (FSP) with FSP No. 640. Imermarket is not an authorised over-the-counter derivative provider; Mr Bongani …
The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when dealing with Mr Rick Steiner (Steiner), who is falsely claiming to be an employee of the FSCA and using the FSCA’s details when communicating with members of the public. The FSCA received reports that Steiner is contacting members of the public and …
The Financial Sector Conduct Authority (FSCA) urges the public to exercise caution when conducting financial services business with an entity known as Quantum Wins. The FSCA has received reports that Quantum Wins is soliciting funds from members of the public through an online trading platform. Quantum Wins purports to trade in cryptocurrencies on behalf of …
The Financial Sector Conduct Authority (FSCA) advises caution when engaging in financial services transactions with individuals purporting to be associated with Altvest Capital Solutions (Altvest Capital) and its Chief Executive Officer, Mr Warren Wheatley, via the Telegram platform. Altvest Capital Solutions is a juristic representative of CAEP Asset Managers (Pty) Ltd, authorised under FSP number …
The Financial Sector Conduct Authority (FSCA) advises the public to exercise caution when engaging in financial services transactions with individuals impersonating financial services provider (FSP) Exness ZA (Pty) Ltd (Exness) (FSP number 51024) on Telegram and WhatsApp. The FSCA received information that Exness is being impersonated on both platforms, where the administrators of these groups …