The Intergovernmental Fintech Working Group (IFWG) has published a new blog on Open Finance, noting that South African regulatory authorities have started looking at open finance as it relates to their respective mandates.

What is open finance? The premise of “open finance” is to give customers the ability to access and share their own

In November 2020, the FSCA released a draft declaration to include crypto assets as ‘financial products’ under the Financial Advisory and Intermediary Services Act, 2002.  The effect of the draft declaration, once made final, would be that any person providing advice or intermediary services in relation to crypto assets would need to be licensed as

In a welcomed development, the Financial Sector Conduct Authority has established a YouTube channel (https://m.youtube.com/channel/UCh3dQcOQAzdptNTKFQvB7HQ/about). The channel is a useful resource and provides valuable insight  as to the FSCA’s stance on certain issues.  Check out their latest videos:

How to establish a FAIS compliance function: https://www.youtube.com/watch?v=QlnMYmwlj1Y

How the FSCA complies to PAIA: https://youtu.be/TdUUOEckfB0

In a draft declaration issued on 20 November 2020, the FSCA proposed to include crypto assets as a category of financial product under the Financial Advisory and Intermediary Services Act, 2002 (“FAIS”).  We wrote about this previously, here.

Speaking to the draft declaration in a September 2021 media briefing, Ms Olaotse

On 20 November 2020, the Financial Sector Conduct Authority issued a draft Declaration of Crypto Assets as a Financial Product under the Financial Advisory and Intermediary Services Act 2002 (FAIS Act). The Declaration will be made in terms paragraph (h) of the definition of ‘financial product’ in the FAIS Act, which provides that a financial

Financial services providers (FSPs) registered under the Financial Advisory and Intermediary Services Act 2002 fall within the ambit of ‘accountable institutions’ under the Financial Intelligence Centre Act 2001. As accountable institutions, these FSPs are obliged to comply with the FIC Act and are subject to oversight by the FSCA.

The FSCA has recently investigated compliance