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Conduct regulation in a developing country: the case for change

by Katherine Gibson

Compendium

May 16, 2021

South Africa is known globally for having an efficiently run, well- regulated and stable financial sector. The enterprise earlier tasked with regulating this robust sector, the Financial Services Board—a non- bank regulator that oversaw both the prudential and market conduct regulation of non-bank financial institutions— was largely successful. This therefore begs the question: why was the Financial Sector Conduct Authority (FSCA) formed in 2018?