The Financial Sector Transformation Council (FSTC) is a non-profit company constituted in terms of the Financial Sector Code (FS Code), gazetted under Section 9 (1) of the Broad-Based Black Empowerment Act 46 of 2013 and it is uniquely positioned as a strategic transitioning organisation that plays a key role in driving and measuring the financial sector’s transformation agenda.
It is mandated through its constituencies to enforce the FS Code. These constituencies are Trade Associations, Government, Nedlac Organised Labour (Labour), Nedlac Organised Community (Community) and the Association of Black Securities and Investment Professionals (ABSIP).
The broader mandate of the FSTC is to drive and measure transformation against the backdrop of the set FS Code targets while simultaneously providing strategic leadership, to accelerate transformation in the financial sector, and to promote the Code as an enabler to a sustainable, inclusive, and growing economy.
We acknowledge that we are stronger together. We strive for a shared vision, a common purpose and a
supportive and collaborative working environment.
We have genuine concern for our society and we encourage and support development and empowerment.
We keep a watchful eye for changes that impact our stakeholders and working with experts, we strive to adapt.
Respect and Integrity
We always honour the dignity of others and we will treat others the way we want to be treated. We will always do what is right and build trust and confidence by being honest at all times.
Engage with policy makers to ensure that legislation enables transformation;
Engage with financial institutions to promote understanding of the FS Code and to provide support for compliance;
Regularly review implementation guidelines to ensure relevancy and ease of implementation;
Publish an annual performance report which is reflective of the status of the sector’s transformation;
Research to understand challenges and identify opportunities to expedite transformation;
Engage with other relevant stakeholders to promote understanding of the FS Code and its benefits.