OMBUD COUNCIL ANNUAL REPORT 2024/25

PART A: GENERAL INFORMATION

2. LIST OF ABBREVIATIONS/ ACRONYMS

Broad-Based Black Economic Empowerment

B-BBEE

The Board of the Ombud Council established by section 179 of the FSR Act

BOARD

Conduct of Financial Institutions Bill, expected to be tabled in Parliament during 2025

COFI BILL

Ombud for Financial Services Providers established by the Financial Advisory and Intermediary Services (FAIS) Act (Act 37 of 2002)

FAIS OMBUD

Financial Sector Conduct Authority, established in terms of the FSR Act.

FSCA

Financial Sector Regulation Act (Act 9 of 2017)

FSR ACT

Generally Recognised Accounting Practice

GRAP

Government Technical Advisory Centre

GTAC

Human Resources

HR

Information and Communication Technology

ICT

Johannesburg Stock Exchange

JSE

Johannesburg Stock Exchange Ombud Scheme, an industry ombud scheme recognised by the Ombud Council under section 194 of the FSR Act The Financial Sector and Deposit Insurance Act (Act 11 of 2022); and the Financial Sector and Deposit Insurance (Administration) and Deposit Insurance Premiums Act (Act 12 of 2022)

JSE OMBUD

LEVIES ACTS

Memorandum of Agreement

MOA

Memorandum of Understanding

MOU

Medium-Term Strategic Framework

MTSF

National Financial Ombud Scheme South Africa, an industry Ombud Scheme recognised by the Ombud Council under section 194 of the FSR Act

NFO

OMBUD COUNCIL/ THE COUNCIL

The Ombud Council, established by section 175 of the FSR Act

Industry ombud schemes and statutory ombud schemes, as defined in section 1 of the FSR Act

OMBUD SCHEME(S)

Public Finance Management Act (Act 1 of 1999)

PFMA

Supply Chain Management

SCM

Standing Committee on Finance

SCOF

Value-added Services

VAS

World Bank Diagnostic

WBD

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OMBUD COUNCIL ANNUAL REPORT 2024/25