South African financial regulator holds back on AI rules

• South Africa's Financial Sector Conduct Authority will await the findings of a study by the Financial Stability Board before setting up new AI rules.
• The regulators plan to develop a joint discussion paper on agentic AI, building on a previous market scan on AI adoption in the financial sector.
• The FSCA and Prudential Authority have already published a paper on AI, but will incorporate governance principles relating to AI's use by financial institutions in a subsequent paper.