FSCA Commissioner stresses the importance of market integrity in challenging economic times

UNATHI Kamlana, Commissioner of the Financial Sector Conduct Authority (FSCA), has called for a renewed commitment to market integrity as South Africa grapples with significant economic challenges.

- YOGASHEN PILLAY

Speaking at the opening of the South African Institute of Financial Markets Summit on Friday, Kamlana said that market integrity was crucial during the challenging global economic times that South Africa is facing.

Kamlana underscored that the current global economic climate remains fraught with uncertainty, capturing the complex interplay of trade relations and geopolitical tensions.

“The IMF’s latest economic outlook report, published in July, describes a world where growth is still positive, but uneven and subject to significant downside risks. Geopolitical tensions are elevated, and trade frictions are beginning to reshape the way economies relate to each other”

While new United States tariffs pose immediate challenges, Kamlana noted that South Africa's financial markets are also contending with more profound structural shifts.

“As many of you will appreciate, developments like these rarely remain isolated; there are potential spillover effects on our financial markets including impacts on investment sentiment, currency movements, and potentially capital flows,” he said.

Kamlana added that alongside the more immediate shocks, financial markets were also contending with deeper structural shifts that are fundamentally transforming how they operate.