The FSCA is the market conduct regulator of financial institutions that provides financial products and financial services to financial institutions that are licensed in terms of a financial sector law, including banks, insurers, retirement funds and administrators, and market infrastructures. The Financial Sector Conduct Authority is responsible for market conduct regulation and supervision. The FSCA aims to enhance and support the efficiency and integrity of financial markets and protect financial customers by promoting their fair treatment by financial institutions, as well as providing financial customers with financial education. The FSCA will further assist in maintaining financial stability.
The National Credit Regulator (NCR) was established as the regulator under the National Credit Act 34 of 2005 (the Act) and is responsible for the regulation of the South African credit industry. It is tasked with carrying out education, research, policy development, registration of industry participants, investigation of complaints, and ensuring enforcement of the Act.
The National Credit Act (NCA) was signed into law by the President on 15 March 2005, and governs the assessment, application and maintenance of credit granted by a credit provider to a consumer within the Republic of South Africa.
The NCA must be read in conjunction with the Regulations passed in terms of the Act.
National Credit Act came into effect on 1 June 2007.
The FIC strives for a safer future for all South Africans in which the financial system has integrity and transparency to support economic growth and social development.
ITC TRANSUNION serves consumers and businesses through several operating divisions: Credit Bureau, Analytic & Decisioning Services, and Auto Information Solutions, as well as the network of local subsidiaries throughout Africa.
Compuscan is a registered credit bureau in terms of the National Credit Act (NCA). As per the NCA, all credit bureaus in South Africa are to supply South African citizens with one free credit report per year. The company also markets credit bureau services to businesses in the credit and financial industries, as well as training services, marketing services, analytics consultancy and loyalty and rewards offerings to a various other industries.
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