Question 1

What does Financial Sector Conduct Authority (FSCA) regulate?

Accepted Answer

Financial Sector Conduct Authority is the financial regulator in South Africa, established in 2018. It oversees: authorization, regulation, supervision.

Question 2

Is FSCA a tier-1 regulator?

Accepted Answer

FSCA is currently a Tier 3 regulator on Brokers Watch. Tier 1 = strict authorization, active enforcement, and meaningful client-fund protection. Tier 3 = light-touch or offshore.

Question 3

Does FSCA offer client compensation if a broker fails?

Accepted Answer

Yes — FSCA's compensation scheme: None. Coverage limits apply per client, per firm.

Question 4

What capital do brokers need to be licensed by FSCA?

Accepted Answer

Licensed firms must maintain minimum capital of ZAR 1,000,000. Higher capital requirements generally correlate with a more stringent regime.

Question 5

How many brokers are licensed by FSCA?

Accepted Answer

No firms in our directory are currently linked to FSCA. Public registers on the regulator's own site will show the authoritative list.

Question 6

Where can I verify a broker's license with FSCA?

Accepted Answer

Visit https://www.fsca.co.za and search the official public register. Cross-check the exact entity name and license number — cloned firms often re-use similar-looking names.

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