Draft amendments to Regulations in terms of the Financial Sector Regulation Act

The National Treasury published draft amendments to the regulations made in terms of the Financial Sector Regulation Act (FSRA). The draft amendments are proposed to regulations 3, 9, 10 and 11 of the current Financial Sector Regulations and aim to:

1. Streamline the recruitment process for the Commissioner and Deputy Commissioners of the FSCA.
2. Empower the Minister of Finance to appoint additional persons to the Transitional Management Committee of FSCA, and to appoint one such person to act as Commissioner while the recruitment process is underway.
3. Clarify how vacancies to the Shortlisting panel should be handled.

Members of the public are invited to submit comments on the draft Regulations by 24 January 2020 to CommentDraftlegislation@treasury.gov.za and enquiries are to be directed to Jeannine.bednar-giyose@treasury.gov.za

To download and read related documents, click on the links below:

• Current FSRA Regulations
• Draft amendments to the FSRA Regulations
• Media statement – Draft Amendments to Regulations in Terms of Financial Sector Regulation Act, 2017