Noahs Fx Waves (Pty) Ltd (NFW) is a fully licensed and regulated as financial service providers (FSPs) with the Financial Services Board (FSB) – now the Financial Sector Conduct Authority (FSCA) – under the Financial Advisory and Intermediary Services (FAIS) Act. NFW is authorized to trade internationally, specializing in CFD online trading on currencies, commodities, futures and indices.

The Financial Services Board (FSB) is the government of South Africa's financial regulatory agency responsible for the non-banking financial services industry in South Africa. It is an independent body that supervises and regulates the financial services industry in the public interest. This includes the regulation of the biggest stock exchange in Africa the Johannesburg Stock Exchange.

The FSB was established in 1991 based on recommendations by the Van der Horst Committee to create an independent body to supervise and regulate the non-banking financial services industry. A number of additional acts have expanded and increased the role of the FSB. These include:

  • In September 2004, the Financial Advisory and Intermediary Services Act (FAIS) expanded the mandate of the FSB to include aspects of market conduct in the banking industry.
  • Financial Intelligence Centre Act (2001) and subsequent amendments have added responsibilities to the FSB to combat money laundering.
  • I On April 1st, 2018, The FSB changed name and mandate to become the FSCA or Financial Services Conduct Authority to become the market conduct regulator of financial institutions, that provide financial products and financial services, financial institutions that are licensed in terms of a financial sector law, including banks, insurers, retirement funds and administrators, and market infrastructures.


FSB is a member of International Organization of Securities Commissions (IOSCO) and is a signatory of the IOSCO multilateral MoUs.

The FSB participates in the activities of African regulatory bodies, particularly those in the Southern African Development Community (SADC) region. It has long standing a close relations with Committee Of Insurance, Securities And Non-Banking Financial Authorities (CISNA) part of the SADC directorate.

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