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Thematics

Committee of Insurance, Securities and Non-Banking financial Authorities (CISNA)

est. 1988

OVERVIEW

The Committee of Insurance, Securities and Non-Financial Authorities (CISNA) is part of the Trade, Industry, Finance and Investment Directorate within the Southern African Development Community (SADC) and reports to the Committee of Ministers of Finance and Investment.

CISNA members consist of the non-banking financial institution regulators, namely capital markets, collective investment schemes, insurance companies, retirement funds and providers of intermediary services in the SADC.

CISNA’s vision is to facilitate the development and implementation of a harmonized, risk based regulatory framework for member states that enables market growth and development, reduces the potential for systemic risk, informs and protects consumers, mobilizes capital flows and contributes to prosperity in the region.

OBJECTIVES

CISNA’s objective is to achieve its mission through a process of co-operation, exchange of information and engagement between regional regulators. This process is directed towards:

  • Harmonizing legislation to ensure consistency and adherence to international regulatory standards and best practices
  • Fostering liaison, co-operation and exchange of information with regional and international regulatory bodies and agencies to develop regional capability and to counter money laundering and the financing of terrorism
  • Facilitating the development of capable, professional regulatory employees
  • Facilitating the development of well informed investors and consumers
  • Promoting adherence to sound corporate governance practices based upon international best practice.