JS2 of 2024 · South Africa · Licensed FSPs

Your bridge between
board governance
and cyber compliance

CyberMax Advisory guides South African financial service providers through full JS2 of 2024 compliance — translating FSCA cybersecurity requirements into practical, proportionate governance your board can stand behind.

1 Jun 2025
Commencement date
R16m Maximum penalty
per contravention
6 Core JS2 control
domains
100% Board-level
accountability
⚠ Compliance Status
JS2 of 2024 is now in force. FSCA-licensed providers must demonstrate active compliance or face material regulatory and personal liability.

Why JS2 of 2024
demands attention

Joint Standard 2 of 2024 is a binding FSCA and PA standard applying to all licensed financial service providers. It goes beyond IT policy — it mandates board-owned cybersecurity governance with documented frameworks, tested controls, and ongoing risk management.

Issuing Authority
Financial Sector Conduct Authority (FSCA) & Prudential Authority (PA)
Commencement
1 June 2025 — active enforcement
Applies To
All licensed FSPs, banks, insurers, and market infrastructure operators
Core Domains
Governance · Risk Management · Controls · Third-Party Risk · Incident Response · Recovery
R16m
Maximum administrative
penalty per contravention
under the FSRA

Practical compliance,
not just documentation

We operate as your external cybersecurity governance partner — bringing regulatory expertise and board-level communication skills to close the gap between your IT environment and your JS2 obligations.

01
JS2 Readiness Assessment

A structured baseline assessment mapping your current cybersecurity posture against all JS2 control domains — producing a clear gap analysis and remediation roadmap.

  • Gap analysis report
  • Risk-rated findings
  • Prioritised remediation plan
  • Board executive summary
02
Cybersecurity Framework Build

End-to-end development of your JS2-compliant cybersecurity framework — including strategy, governance structures, roles & responsibilities, and control documentation.

  • Cybersecurity strategy document
  • Roles & responsibilities matrix
  • IT provider contract schedules
  • Policy suite (JS2-aligned)
03
Board Readiness & Advisory

Preparing your board and executive team to own, evidence, and report on cybersecurity governance — from sign-off templates to regulatory engagement support.

  • Board sign-off documentation
  • Director briefing sessions
  • Regulatory correspondence support
  • Ongoing governance advisory
04
Third-Party Risk Management

Assessing and formalising your IT service provider relationships in line with JS2's third-party risk requirements, including contract schedules and oversight frameworks.

  • Provider risk assessments
  • JS2 contract schedule (Parts A & B)
  • Oversight monitoring framework
  • Due diligence templates
05
Incident Response Planning

Developing and testing your cyber incident response plan to meet JS2's notification and recovery requirements — so you're prepared before an incident occurs.

  • Incident response plan
  • FSCA notification procedures
  • Tabletop exercise facilitation
  • Recovery plan documentation
06
Pre-Audit Readiness Review

A final structured review before any regulatory inspection or internal audit — validating your evidence base, identifying residual gaps, and preparing your team for scrutiny.

  • Evidence portfolio review
  • Readiness scorecard
  • Remediation tracker close-out
  • Regulatory Q&A simulation
Staff Training · JS2 Requirement
Cybersecurity Awareness Training Programme
JS2 mandates ongoing staff cybersecurity awareness. Our interactive, self-paced training platform covers all JS2-relevant topics — phishing, data handling, incident reporting, and more — with built-in quizzes, AI-powered personalised guidance, and a printable completion certificate for your compliance records.
Launch Training →

A six-phase methodology
built for regulated firms

Our engagement model mirrors the JS2 compliance lifecycle — structured, documented, and designed to produce evidence your board can rely on and your regulator can inspect.

Phase 01
Initial Engagement & Scoping

Define your regulatory perimeter, organisational profile, and proportionality position. Establish project governance and stakeholder roles.

Phase 02
Baseline Assessment

Structured review of current cybersecurity controls across all JS2 domains. RAG-rated gap analysis with risk prioritisation.

Phase 03
Framework Development

Build your JS2-compliant documentation suite — strategy, policies, roles, contracts, and board governance materials.

Phase 04
Implementation Support

Guide your team through embedding controls, managing third-party obligations, and operationalising your framework.

Phase 05
Testing & Validation

Incident response tabletop exercises, control testing, and evidence validation to confirm your framework functions as designed.

Phase 06
Pre-Audit Readiness

Final review of your evidence portfolio, readiness scorecard sign-off, and preparation for regulatory inspection or internal audit.

Built for South Africa's
regulated financial sector

We work with small to mid-size FSPs who need expert JS2 guidance without retaining a full-time cybersecurity executive. Our value is in bridging governance and security — not in technical delivery.

📊
Discretionary FSPs
Portfolio managers and discretionary investment managers under FSCA licence
🏦
Wealth Managers
Private client wealth and advisory firms managing client assets
🔒
Stockbrokers & Traders
JSE-member firms and Category I / II FSP licence holders
🛡️
Insurance Intermediaries
Short-term and long-term insurance brokers under FSCA oversight
💼
Fund Administrators
Third-party fund administrators and LISP platforms
📋
Financial Advisors
Independently licensed Cat I FSPs and advisory practices

Ready to get compliant?

Begin with a no-obligation JS2 readiness conversation. We'll assess your current position, explain what's required for your organisation's size and risk profile, and outline a clear path forward.