The FSB is there to ensure that you are treated fairly by the financial services providers you deal with, and that you enjoy a safe investment environment. The FSB prevents many South Africans from losing their hard earned money to illegal money making schemes. You can confirm with the FSB whether the entity you are dealing with has a valid FSB licence because only licensed providers are authorised to sell you financial products. It is important to note that the FSB does not regulate or follow up on pyramid schemes, as the South African Reserve Bank takes on
The Financial Services Board (FSB) oversees the non-banking financial services industry, which includes retirement funds, short-term & long-term insurance, companies, funeral insurance, schemes, collective investment schemes (unit trusts and stock market) and financial advisors and brokers.