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Reserve Bank's Unathi Kamlana appointed as new head of FSCA

22 April 2021 7:21 PM
Tags:
National Treasury
The Money Show
Reserve bank
Bruce Whitfield
Astrid Ludin
Financial Conduct Authority
Financial Sector Conduct Authority
FSCA
Unathi Kamlana
Financial Sector Regulations
FSCA Commissioner

The Money Show interviews Kamlana, who'll take over as Commissioner of the Financial Sector Conduct Authority in June.

Finance Minister Tito Mboweni has appointed senior Reserve Bank official Unathi Kamlana as new commissioner of the regulatory authority for the financial sector.

Kamlana will take up the five-year appointment at the Financial Sector Conduct Authority (FSCA) on 1 June.

Astrid Ludin was appointed as his Deputy. She is a former Deputy Director-General at the Department of Trade, Industry and Competition.

The Ministry of Finance says its Shortlisting Panel received 90 applications for the Commissioner position and five candidates were interviewed.

Kamlana is currently the Head of Department responsible for Policy, Statistics and Industry Support at the Prudential Authority of the Reserve Bank.

Bruce Whitfield interviews the incoming FCSA Commissioner on The Money Show.

I've been with the Reserve Bank for close to ten years in the Prudential Authority, focusing on soundness of institution for the past six years.

Unathi Kamlana, Incoming Commissioner - Financial Sector Conduct Authority

Kamlana also comments on businessman Tokyo Sexwale's continued insistence that billions or even trillions of rands have been looted from a "Heritage Fund".

RELATED: National Treasury suggests Tokyo Sexwale fell for a huge scam

The Reserve Bank and National Treasury have said they have no record of the existence of the fund.

The conclusion is that Sexwale fell for a scam.

The context around this is the work we still obviously need to do to make sure that the public is aware of potential 419 scams. We've invested a lot of time and resources in the recent past to make sure that there is wider awareness.

Unathi Kamlana, Incoming Commissioner - Financial Sector Conduct Authority

It's become clear that both the Reserve Bank and the FSCA still need to invest in further resources to make sure that people are aware of these scams.

Unathi Kamlana, Incoming Commissioner - Financial Sector Conduct Authority

The FCSA issues warnings every week about scams being operated in the country.

Do we get to a point where we are wise enough as a public not to fall for these scams?

Bruce Whitfield, The Money Show host

It's a very difficult area for the regulator. While part of the problem is ignorance... the other part is greed, even with those people that should - and do - know much better in terms of licensing institutions... They still want to try their luck.

Unathi Kamlana, Incoming Commissioner - Financial Sector Conduct Authority

All we can do is to provide information to the public to insist on disclosure, and for those that are unlicensed in this space to publish that information so that the public is in the know.

Unathi Kamlana, Incoming Commissioner - Financial Sector Conduct Authority

Listen to the interview with the incoming FSCA Commissioner:


This article first appeared on CapeTalk : Reserve Bank's Unathi Kamlana appointed as new head of FSCA




22 April 2021 7:21 PM
Tags:
National Treasury
The Money Show
Reserve bank
Bruce Whitfield
Astrid Ludin
Financial Conduct Authority
Financial Sector Conduct Authority
FSCA
Unathi Kamlana
Financial Sector Regulations
FSCA Commissioner

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