Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 4 : Financial Sector Conduct AuthorityPart 2 : Governance60. Establishment and role of Executive Committee |
| (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. |