FSCA preparing to demand BEE prerequisites from financial services providers
The FSCA and the BEE Commission signed a MoU to facilitate withholding licenses and prosecuting financial services providers operating below future stipulated BEE thresholds. Currently, such enforcement by the FSCA or BEE Commission would be unlawful, which is why they are eager to have the Conduct of Financial Institutions Bill (COFI, currently before Parliament) passed. […]