MEET THE FSCA’S EXECUTIVE COMMITTEE

The FSCA’s Executive Committee (EXCO) comprises the Commissioner and three Deputy Commissioners appointed by the Minister of Finance. It is responsible for generally overseeing the management and administration of the FSCA to ensure that it is efficient and effective. This entails overseeing strategic and operational matters.

EXCO is also responsible for:

  • Overseeing the implementation of key matters assigned to the FSCA by relevant financial sector laws;

  • authorising the Commissioner to sign memorandums of understanding with other regulators;

  • delegating powers of the FSCA to the PA in terms of an MOU;

  • developing conduct and joint standards, and other regulatory instruments in terms of various financial sector laws;

  • approving the granting, varying, suspending and revoking of licences in terms of financial sector laws;

  • adopting the administrative action procedures of the FSCA;

  • appointing members of subcommittees of the FSCA required or permitted by a law, and giving directions regarding the conduct of the work of any subcommittee;

  • making determinations of fees in terms of financial sector laws; and

  • adopting the Regulatory Strategy of the FSCA and any amendment thereto.

FSCA Commissioner and Deputy Commissioners

Unathi Kamlana is the Commissioner of the FSCA, having assumed his duties on 1 June 2021. He has previously served in many roles in the financial sector, including the National Treasury and the South African Reserve Bank (SARB).

Unathi has served on various notable forums locally and abroad, including the Standing Committee for the Revision of the Banks Act; Standing Committee for the Revision of the National Payments System (NPS) Act; the Policy Development Group (PDG) of the Basel Committee on Banking Supervision (BCBS) and the Policy Development Committee of the International Association of Insurance Supervisors (IAIS). He currently chairs the Financial Stability Board (FSB) Peer Review of the United Kingdom and is a Young Global Leader of the World Economic Forum (WEF).



Astrid Ludin assumed her duties as Deputy Commissioner on 1 June 2021. She has amassed vast experience in the public sector, including the Competition Commission where she was Divisional Manager for Compliance, and later Deputy Commissioner.

At the Department of Trade and Industry (DTI) she served as Deputy Director-General for Consumer and Corporate Regulation; and went on to serve as Commissioner of the Companies and Intellectual Property Commission (CIPC). Astrid was a Senior Advisor of the Prudential Authority at the South African Reserve Bank (SARB) before joining the FSCA.



Katherine Gibson served as a member of the Transitional Management Committee of the FSCA at the time of her appointment as Deputy Commissioner. In this role she fulfilled a number of key responsibilities and was also appointed as Acting Commissioner.

An experienced economist, Katherine has served over a decade at the National Treasury where she was instrumental in championing the development of the Twin Peaks model of financial regulation, and also boasts an impeccable track record in public, trade and competition policy.



Farzana Badat has more than 15 years of management experience in the financial sector, most of which have been spent in regulation, consumer protection, financial technology and digital transformation. Before joining the Financial Services Board (FSB) and its successor the FSCA, Ms Badat worked at the International Association of Insurance Supervisors (IAIS) where she was responsible for coordinating key activities globally for institutions like the Bank of International Settlements (BIS), the Financial Stability Institute (FSI), the Organisation for Economic Cooperation and Development (OECD) and the Islamic Financial Services Board (IFSB).



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