FSCA appointments

Open Secrets and UBC intervention in secretive FSCA Commissioner appointment process

Open Secrets and the Unpaid Benefits Campaign (UBC), represented by the Centre for Applied Legal Studies (CALS) have applied to the Gauteng High Court (Pretoria) on an urgent basis to ensure a transparent process to select the new Commissioner and Deputy Commissioners of the Financial Sector Conduct Authority (FSCA).

founding affidavit

The FSCA acts as the oversight body for the financial sector, whose conduct has far-reaching consequences for ordinary citizens. Therefore, the independence and transparency of the FSCA is a particularly crucial safeguard of its ability to act in the public interest. Notably, the FSCA is the first regulator of its kind in South Africa, with a specific mandate to scrutinise the market conduct of actors in the financial sector, and ensure that customers are treated fairly. Given its importance, it is crucial that the public be sufficiently represented and involved in the process to appoint its commissioners.

We have asked the court to interdict the shortlisting, interviewing and selection of candidates – as directed by Minister of Finance Tito Mboweni – until public participation has been provided for to allow members of the public as well the media to have full access to these processes. We believe this is essential to protect the Constitutional imperatives of openness, transparency and accountability and the right of the public to participate in these processes

conditional replying affidavit

National Treasury missed the 28th October 2020 deadline to submit their answering affidavit to our court application despite opposing our application. Regardless Open Secrets and the Unpaid Benefits Campaign represented Centre for Applied for Legal Studies (CALS) have filed our conditional reply on the 3rd November 2020.