The Minister of Finance, Tito Mboweni, has in terms of Regulation 3(1)(d) of Financial Sector Regulations, 2018 (as amended) that were made in terms of sections 61(4), 288 and 304 of the Financial Sector Regulation Act No. 9 of 2017 (FSR Act), appointed Ms. Katherine Lee Gibson to perform the functions of the Commissioner of the Financial Sector Conduct Authority (FSCA), whilst the panel finalises the appointment of a full-time Commissioner.
Ms. Gibson's appointment is effective from 1 April 2021 to 30 June 20213, or until a Commissioner is appointed and assumes office, whichever occurs sooner. In accordance with regulation 3(1) of the Financial Sector Regulations, the Transitional Management Committee (TMC) continues to be in existence until a date determined in a Notice published by the Minister of Finance, which may only be a date after the Commissioner and at least two Deputy Commissioners are appointed and assume office. The terms of the appointment of TMC members continue until the date of the disbandment of the TMC.