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FSCA awarded judgement in matter pertaining to Public Protector’s flawed Report

19 October 2020 Financial Sector Conduct Authority (FSCA)

On 9 October 2020, the High Court of South Africa provided its judgement on “The Report” of the Public Protector, No. 46 of 2018/19, dated 28 March 2019, which followed a complaint by the Economic Freedom Fighters’ President Julius Malema.

The High Court of South Africa, reviewed the application by the Financial Sector Conduct Authority (FSCA) together with “The Report”, and the outcomes of the judgement are that:

• The Report of the Public Protector No. 46 of 2018/19, is reviewed and set aside and declared constitutionally invalid and unlawful, for the lack of jurisdiction.
• The Public Protector is ordered to pay the costs of the applicants until 13 November 2019.

The full judgement is attached for further reference. The Authority is satisfied with the outcome on this matter and looks forward to executing its mandate to ensure an efficient, stable financial sector where customers are informed and treated fairly.

Full judgement is attached here...

 

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ASISA’s lobbying of the SARB to suspend Circular 15, which contained significant changes to foreign exchange controls. What is your take on this accusation?

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