SA watchdog warns of more global risks
FSCA needs to be especially vigilant after SA greylisted, says commissioner
Financial Sector Conduct Authority (FSCA) commissioner Unathi Kamlana says the financial sector watchdog has not hesitated to throw the book at funeral schemes, cryptocurrencies and other financial sectors flouting regulations, warning that the global economic outlook exposes South Africa to more compliance risks.
“We successfully completed over 400 investigations, resulting in 420 licence withdrawals and 984 suspensions," Kamlana said in the FSCA's 2022-23 annual report tabled recently...
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