FINANCIAL SERVICES BOARD
Insurance in Pretoria

The Financial Services Board (FSB) is an independent institution established by statute to oversee the South African Non-Banking Financial Services Industry in the public interest. Its mission and vision are to promote and maintain a sound financial investment in South Africa. The FSB is there to ensure that you are treated fairly by the financial services providers you deal with, and that you enjoy a safe investment environment. The Financial Services Board (FSB) oversees the non-banking financial services industry, which 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. We are an integral part of the Investment Institutions division which is responsible for the oversight of financial markets. We are committed to meeting G20 recommendations on the regulation of Credit Rating Agencies (CRAs) and as such, committed to assisting the Financial Services Board in executing its responsibilities. Our regulatory approach is to have a risk-based supervisory model and to avoid excessive regulatory encumbrance. We also encourage high standards of ethical conduct and integrity from the FSB and its people by demonstrating professionalism, independence, efficiency, leadership and resolve in the discharge of our responsibilities and we ensure administrative fairness utilising a consultative process and emphasising our accessibility, transparency and accountability in the performance of our functions. We supervise credit rating agencies and monitor their role in financial markets and are committed to meeting the G20 recommendations on the regulation of Credit Rating Agencies, which include, inter alia, creating a globally-consistent regulatory framework for credit rating agencies and mandatory registration of CRAs. We have a primary mandate to protect the interests of SA investors in the Collective Investment Schemes (CIS) industry and promote a sound, transparent, efficient and fair CIS industry. By facilitating the development of a well-functioning regulatory platform, the department ensures and enhances market confidence and competition. co-ordinating and giving input to strategic market conduct regulatory and supervisory projects. providing guidance and expertise to FSB supervisory teams in implementing a TCF aligned approach to supervision. facilitating consultation with internal and external stakeholders with regards to the above projects. representing the FSB in international forums and consultations on market conduct matters. promoting industry wide awareness and understanding of TCF and other market conduct initiatives.