The Financial Sector Regulations (FSR) represent a decisive shift away from a fragmented regulatory approach and gives effect to the Twin Peaks model of financial regulation. The design of the Twin Peaks model underpins a comprehensive regulatory system, that aims to strengthen financial stability and the soundness of financial institutions by creating a dedicated Prudential Authority within the South African Reserve Bank and prioritise the protection of customer’s funds in the financial sector.
The FSR aims to achieve a stable financial system that works in the interest of financial customer’s and supports balanced and sustainable economic growth in the country.
Our advisory services
Werksmans’ expertise includes ensuring that clients are compliant with the legislative framework and adhere to the financial sector laws as well as advising and equipping Regulators in strengthening their regulatory frameworks.
