Scope of Application

The Financial Sector Code applies to any natural or juristic person conducting a business, trade or profession in the South African financial sector, including, but not limited to, the following:
• Banking;
• Long-term insurance;
• Short-term insurance;
• Re-insurance;
• The management of retirement, pension and collective investment scheme assets;
• Management of formal collective investment schemes;
• Financial Services Intermediation and Brokerage;
• Management of investments on behalf of the public, including, but not limited to, private equity, members of any exchange licensed to trade equities or financial instruments in South Africa and entities listed as part of the financial index of a licensed exchange; and
• Underwriting Management Agents.

The Financial Sector Code does not apply to:
• Natural or juristic persons who do not have trading operations in the Republic of South Africa;
• The trading operations of natural or juristic persons outside the Republic of South Africa; and
• Managers of investments on behalf of the public who are not subject to regulation in terms of the Financial Services Board, for example, money held in intermediate trusts by lawyers.

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