South African companies and executives hit with R2.89 billion in fines

• South African companies and executives were hit with R2.89 billion in fines by the Financial Sector Conduct Authority for various misconducts.
• The regulator imposed the record penalties to deter misconduct and boost trust in the industry, and its actions contributed to South Africa's exit from the global dirty-money list.
• The FSCA concluded 678 investigations, debarred 68 individuals, and withdrew 14 licenses, with a broader market-abuse probe still ongoing.