This proposal was first put forward by National Treasury in 2011  Page 5 of 8  and I am sure everyone here is aware of what the plan is going forward. Nonetheless, let me remind you that, among other things, the proposed conduct authority will have a mandate to enhance and support the integrity and efficiency of the domestic financial system.
This mandate will be provided for in the Financial Sector Regulation Bill which is expected to confer powers on the SARB (as the Prudential Authority) and the Financial Services Board (as the Financial Sector Conduct Regulator) to preserve and enhance financial stability and to improve market conduct in order to protect financial customers.