Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)

Chapter 4 : Financial Sector Conduct Authority

Purchase

(1)	A committee called the Executive Committee is hereby established for the Financial Sector Conduct Authority.

(2)	The Executive Committee consists of the Commissioner and the Deputy Commissioners.

(3)	The Executive Committee must—

(a)	generally oversee the management and administration of the Financial Sector Conduct Authority to ensure that it is efficient and effective; and

(b)	act for the Financial Sector Conduct Authority in the following matters:

(i)	Authorising the Commissioner to sign, on behalf of the Financial Sector Conduct Authority, a section 27 or section 77 memorandum of understanding and any amendments to such a memorandum;

(ii)	delegating powers of the Financial Sector Conduct Authority to the Prudential Authority in terms of a section 77 memorandum of understanding;

(iii)

adopting the regulatory strategy of the Financial Sector Conduct Authority, and any amendments to the strategy;

(iv)	adopting the administrative action procedures of the Financial Sector Conduct Authority, and any amendments to those procedures;

(v)	appointing members of subcommittees of the Financial Sector Conduct Authority required or permitted by a law, and giving directions regarding the conduct of the work of any subcommittee;

(vi)	making conduct standards, joint standards and other regulatory instruments in terms of financial sector laws for which it is the responsible authority;

(vii)

granting, varying, suspending and revoking licences in terms of a financial sector law;

(viii)

making determinations of fees in terms of financial sector laws;

(ix)	any other matter assigned in terms of a financial sector law to the Executive Committee.