Browsing by Author "Visagie-Swart, Lynette"

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    An overview of the first draft of the conduct of financial institutions bill and the potential impact on the national payment system in South Africa
    (Juta Law, 2020) Lawack, Vivienne; Visagie-Swart, Lynette
    Over the last decade National Treasury (‘Treasury’) has been rigorously acting on its commitment to promote a stable and safe financial sector for South Africa. The means by which Treasury elected to do so was the decision to move to a twin-peaks model of financial sector regulation in South Africa (‘the Twin Peaks’). Through the introduction of various carefully drafted legislative and regulatory instruments, South Africa, on 1 April 2018, welcomed the introduction of the Twin Peaks model of financial sector regulation through the commencement of the Financial Sector Regulation Act 9 of 2017 (‘FSR Act’). On this very same day, we saw the establishment of the two main Twin Peaks regulators: the Prudential Authority (‘PA’) and the Financial Sector Conduct Authority (‘FSCA’).