Committee of Insurance, Securities and Non-banking Financial Authorities (CISNA)
CISNA forms part of the Trade, Industry, Finance and Investment Directorate with the Southern African Development Community (SADC) and reports to the SADC Committee of Ministers of Finance and Investment through the Committee for Senior Treasury Officials. CISNA was established in 1998. It consists of the non-banking financial institution authorities, namely, capital markets, collective investment schemes, insurance companies, retirement funds and providers of intermediary services in the SADC.
CISNA's Vision, Mission and Values
CISNA's Vision is to facilitate the development and implementation of a harmonised, risk based regulatory framework for member states in SADC that enables market growth and development, reduces the potential for systemic risk, informs and protects consumers, mobilises capital flows and contributes to prosperity in the region.
CISNA's Mission is to achieve its vision through a process of co-operation, exchange of information and engagement between regional regulators. This process will be directed towards;
- Harmonising legislation to ensure consistency and adherence to international regulatory standards and best practice.
- 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.
CISNA's Values are to
- pro-actively identify and mitigate systemic risk;
- harmonise and enhance regulatory frameworks to facilitate industry growth and access and to ensure consistent, effective supervision/enforcement;
- ensure regional adherence to applicable global principles, standards and best practise
- foster liaison, co-operation and exchange of information between regional and international bodies and agencies to develop regional capability, counter money laundering and the financing of terrorism;
- facilitate the development of competent and professional regulatory capacity;
- facilitate well informed investors and consumers;
- promote the development and deepening of non-banking financial markets; and
- promote adherence to sound corporate governance practises