FINANCIAL EDUCATION: CONDUCT STANDARD PUBLISHED

FINANCIAL EDUCATION: CONDUCT STANDARD PUBLISHED

• 27 March 2025
• Financial Sector
• SA Legal Academy

The Financial Sector Conduct Authority (FSCA) has published a conduct standard prescribing the requirements to be met by institutions providing financial education. This follows the release of a discussion paper in 2020, comments on which are summarised in a response document issued with the new conduct standard.

According to an accompanying statement of need:

• ongoing low levels of financial literacy point to a need for more appropriate financial education initiatives
• these could play a ‘significant role … in advancing transformation and inclusion’
• ‘initiatives and activities remain fragmented and unco-ordinated’ (possibly because regulatory compliance and consumer education are ‘overseen by different entities’)
• the ‘various methods of design and development’ used by the institutions concerned may be driven more by marketing objectives than financial education, and
• monitoring and evaluation measures are needed to:
  • identify gaps in the topics covered, and
  • ensure that financial education initiatives reach those most in need of them.

Please click the links below for more information:

• conduct standard
• statement of need
• consultation report
• FSCA communication

Published by SA Legal Academy Policy Watch

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