FSCA is an acronym for "Financial Sector Conduct Authority". A new financial sector regulation act was passed in 2017 creating this regulatory body. As an independent authority dedicated to monitoring the financial markets, it replaced the Financial Services Board (FSB).
The FSCA is a market conduct regulator for all financial institutions in South Africa. They control all businesses or institutions providing financial services or products.
As a result, the FSCA is responsible for managing financial centres complying with financial sector laws. For example, it could be retirement funds, insurers, banks, or financial markets.
The FSCA's main objective is to protect South African investors, traders, and even the whole economy. In fact, it protects people from money laundering and other fraudulent schemes.
Additionally, investors and traders can contact any broker registered with the FSCA outside South Africa. Investors and traders should always consider choosing brokers who are FSCA-regulated to ensure the safety and security of their funds.