Taxonomies
Related documents
- Is amended by Financial Sector Regulations, 2018: Amendment
- Is amended by Financial Sector Regulations, 2018: Amendment
South Africa
Financial Sector Regulation Act, 2017
Financial Sector Regulations, 2018
Government Notice R405 of 2018
- Published in Government Gazette 41550 on 29 March 2018
- Commenced on 29 March 2018
- [This is the version of this document from 5 August 2020.]
- [Amended by Financial Sector Regulations, 2018: Amendment (General Notice 196 of 2019) on 29 March 2019]
- [Amended by Financial Sector Regulations, 2018: Amendment (Government Notice 850 of 2020) on 5 August 2020]
1. Definitions
In these Regulations, “the Act” means the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017), and, unless the context otherwise indicates, any word or expression to which a meaning has been assigned in section 1 or 289 of the Act has that meaning, and—“appointment criteria” means the criteria for appointment as Commissioner or Deputy Commissioner, as the case may be, specified in section 61 of the Act and regulation 11;“Board of Review” means the Board of Review established by section 9(2) of the Banks Act;“Ministerial Panel” [definition of “Ministerial Panel” deleted by section 2 of Government Notice 850 of 2020]“Shortlisting Panel” means the panel established by regulation 9(1) for the shortlisting of candidates to be interviewed for appointment as the Commissioner and Deputy Commissioners of the Financial Sector Conduct Authority.Part 1 – Transitional measures
2. Exercise of functions
3. Management of transitional process to establish Financial Sector Conduct Authority
4. Management of transitional process to establish Financial Services Tribunal
4A. Accounting authority for statutory ombuds
The Commissioner is, for purposes of the Public Finance Management Act, the accounting authority of—4B. Recovery of costs by Council for Medical Schemes
When the Council for Medical Schemes exercises powers in terms of Chapter 9 of the Act as contemplated in section 129(2) of the Act, the Registrar of Medical Schemes may recover costs associated with the exercise of those powers from—5. Publication
Until Part 2 of Chapter 17 and section 287 come into effect, a requirement in a financial sector law to publish a document or information in the Register is satisfied by publication of the document or information on the website of the person who is required to publish it.6. Application of sections
Part 2 – Appointment of Commissioner and Deputy Commissioners of Financial Sector Conduct Authority
7. Advertising vacancy
8. Applications for Commissioner and Deputy Commissioner
9. Shortlisting Panel
10. Appointment by Minister
11. Appointment criteria
When determining whether a candidate is suitable to be shortlisted and recommended for appointment as the Commissioner or a Deputy Commissioner, the Shortlisting Panel must, in addition to the appointment criteria in section 61 of the Act, assess whether a candidate has—12. Commencement and short title
These Regulations are called the Financial Sector Regulations, 2018, and come in effect on the date of publication in the Gazette.History of this document
05 August 2020 this version
29 March 2019
29 March 2018
Cited documents 4
Legislation 4
1. | Pension Funds Act, 1956 | 1513 citations |
2. | Consumer Protection Act, 2008 | 1079 citations |
3. | Financial Advisory and Intermediary Services Act, 2002 | 310 citations |
4. | Financial Sector Regulation Act, 2017 | 118 citations |