FSCA: Regulatory Actions Report for 2026

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FSCA: Regulatory Actions Report for 2026

• 27 August 2026
• Miscellaneous
• South African Accounting Academy

Summary:
The Financial Sector Conduct Authority (FSCA) has published its latest Regulatory Actions Report for the previous financial year, which highlights the FSCA’s enforcement efforts between 1 April 2025 and 31 March 2026. 

Article:

The report also outlines the FSCA’s future focus areas based on identified trends and risks.  

Through this 4th edition, the FSCA demonstrates its continued commitment to protecting financial customers, promoting market integrity, and holding regulated entities and individuals accountable for misconduct.  

Administrative sanctions increased substantially. The report details a number of enforcement interventions by the FSCA, including imposed penalties totalling R2,8 billion on 76 persons and entities – a significant increase from the amount of R119,8 million imposed as penalties during the previous reporting period. 

This increase was largely driven by sanctions involving material FAIS Act contraventions, market abuse, and anti-money laundering compliance failures.   

The combating of online financial harm remained a major FSCA priority. The increasing sophistication of scams, impersonation fraud, deepfake advertising, unauthorised forex schemes, and digitally enabled financial misconduct poses growing risks to South African consumers.

The report also looks at high-profile matters including the Banxso enforcement action, involving deepfake advertising and the misappropriation of client funds, which resulted in penalties exceeding R2 billion and lengthy debarments of key persons.  

The FSCA also maintained a strong focus on consumer protection through financial education initiatives. Consumer education activities achieved extensive reach through social media, radio, television, print media, webinars and in-person engagements. These initiatives support the FSCA’s objective of empowering consumers to recognise financial risks, avoid scams, and make informed decisions.

Contents of the Regulatory Report:

Abbreviations

Executive Summary

1. Introduction and Summary of Enforcement interventions
2. Cooperation and collaboration with International and Domestic regulatory bodies
3. Overview of Statistics per enforcement intervention
4. Financial Services Tribunal reconsiderations
5. Focus areas, Trends & Risk Areas

Figure 1: Summary of FSCA enforcement interventions

List of Tables (16 of them)

List of Case Studies (12 of them)

2 Graphs

Click here to download the 50page Report:

https://www.fsca.co.za/_api/cr3ad_researchanddatadocses(0a08fd4a-2d8f-f111-8076-70a8a52afc83)/cr3ad_document/$value

Relevance to Auditors, Independent Reviewers & Accountants:

• All the Acts regulated by the FSCA are pieces of legislation that your clients must comply with, and which you must assess compliance with.  If they don’t comply with the relevant laws and regulations, you have certain reporting obligations in terms of NOCLAR (NOn-Compliance with Laws And Regulations) – this could include reporting to management, qualifying your audit opinion, reporting a Reportable Irregularity, etc.
• As an auditor, independent reviewer and accountant, you should be aware of the regulatory actions and outcomes of the FSCA.
• You also need to consider the latest publications by regulators, such as the FSCA, to keep abreast of changes and important information.

Relevance to Your clients:

• Entities that must comply with the relevant legislation that is enforced by the FSCA, should be aware of the regulatory actions and outcomes.
• Your clients also need to consider the latest publications by regulators, such as the FSCA, to keep abreast of changes and important information.

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