the fsr act
The Ombud Council was established in terms of Chapter 14 of the Financial Sector Regulation (FSR Act) Act No. 9 of 2017 (FSR Act).
The objective of the FSR Act is to achieve a stable financial system that works in the interests of financial customers and that supports balanced and sustainable economic growth in the Republic, by establishing, in conjunction with the specific financial sector laws, a regulatory and supervisory framework that promotes:
Financial Stability
The safety and Soundness of financial institutions
The efficiency and integrity of the financial system
Transformation of the financial sector
Financial Inclusion
The fair treatment and protection of financial customers
The prevention of financial crime
Confidence in the financial system