The South African Financial Sector Conduct Authority published its Regulatory Actions Report covering enforcement activity from April 1, 2025, to March 31, 2026. It imposed penalties totaling ZAR 2.8 billion on 76 people and entities, up from ZAR 119.8 million in the previous reporting period, largely because of sanctions for material Financial Advisory and Intermediary Services Act contraventions, market abuse and anti-money laundering compliance failures. The report highlights the Banxso enforcement action involving deepfake advertising and the misappropriation of client funds, which resulted in penalties exceeding ZAR 2 billion and lengthy debarments of key individuals. It also sets out future focus areas based on identified trends and risks. The authority will hold media roundtables and enforcement roadshows for financial services providers to support further engagement and information sharing.
South Africa Financial Sector Conduct Authority2026-07-31
South Africa's Financial Sector Conduct Authority reports ZAR 2.8 billion in penalties for 2025/26
The South African Financial Sector Conduct Authority imposed ZAR 2.8 billion in penalties on 76 people and entities during 2025/26, up from ZAR 119.8 million in the previous reporting period. The increase largely reflected sanctions for material financial services law breaches, market abuse and anti-money laundering compliance failures.