FSCA issued fines totalling R100.64m in 2022/23
Financial regulator discloses the administrative penalties in its annual regulatory actions report
The Financial Sector Conduct Authority (FSCA) has imposed R100.6m in administrative penalties as part of its actions to ensure compliance with SA’s financial regulatory framework during its 2022/23 financial year.
The regulator imposed a total of R153.86m in administrative penalties on 44 investigated parties between April 1 2022 and March 31 2023, according to its regulatory actions report for that period, which was released on Tuesday. However, after taking into account those penalties that were suspended or set aside after reconsideration by the Financial Services Tribunal (FST), the total administrative penalties payable dropped to R100.64m...
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