Navigating SAβs Financial Regulations: Expert Strategies
IT News Africa | Mamsi Nkosi - Jul 30, 2024
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- Engaging with locally regulated brokers provides protection and accountability for traders.
- Consulting the FSCA register is important to verify if brokerages are recognized and regulated.
- Non-compliance to South African regulations can result in fines, penalties, and damage to reputation.
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The text highlights the importance of regulatory compliance for brokerages in South Africa. It emphasizes that compliance is not just a regulatory obligation but also a critical competitive advantage that builds trust with clients. Non-compliance can have severe consequences, including financial and reputational damage. Becoming a licensed OTC derivative provider is a significant achievement, demonstrating commitment to regulatory adherence. Financial literacy is crucial for financial inclusion, and brokerages can contribute by offering educational programs and resources.
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