FSB Interactions

Who is the Financial Services Board (FSB) and what do they do?

The FSB is an independent body that supervises and regulates the non-banking financial services industry in South Africa. The non-banking financial services industry includes retirement funds, short-term & long-term insurance, companies, funeral insurance, schemes, collective investment schemes (unit trusts and stock market) and financial advisors and brokers. The FSB monitors these entities and is responsible for ensuring that they comply with the relevant regulation.

The FSB’s aim is to “To promote and maintain a sound financial investment environment in South Africa” by ensuring fair treatment of consumers of financial services and products; financial soundness of financial institutions; systemic stability of financial services industries; and integrity of financial markets and institutions.

The FSB continually works towards instituting sound regulatory frameworks in the financial industry. Its mandate is to:

  • supervise and enforce compliance with laws regulating financial institutions and the provision of financial services;
  • advise the Minister on matters concerning financial institutions and financial services; either of its own accord or at the request of the Minister; and
  • promote programmes and initiatives by financial institutions and bodies representing the financial services industry to inform and educate users and potential users of financial products and services

Masthead’s relationship with the FSB

Masthead has a long-standing, collaborative working relationship with the FSB. This relationship was established on years of interacting with the FSB through discussion and input on regulatory matters and our ability to harness constructive and accurate feedback from the IFA market.

FSB Logo“The FSB has valued your participation and input into regulatory and compliance issues and hope that you will continue to actively engage on issues important to advisors into the future as we move towards market conduct supervision.” 

– Caroline da Silva (Deputy Executive Officer: FAIS at the Financial Services Board)

HOW WE INTERACT WITH THE FSB
FSB COMMITTEES
The FSB is made up of a board that oversees the operations of the FSB through various committees. Masthead participates in several of these committees
FEEDBACK TO THE FSB
Masthead provides feedback to the FSB on various industry matters and proposed regulatory changes. With access to a national IFA market, we are able to gather
input directly from these IFAs and provide the FSB with relevant feedback.

MASTHEAD IS

A national supplier of risk management services to independent financial advisors and other licensed financial service providers (FSPs). Established in 2004, we help our clients overcome their risk management challenges so they can grow and thrive in an increasingly regulated industry. Providing professional guidance and practical support, our team of specialists is passionately committed to delivering tangible solutions.

Why Masthead?

CONTACT US

Phone:

+27 21 686 3588

E-mail:

 info@masthead.co.za