Unathi Kamlana has been appointed commissioner of the regulatory authority for the financial sector. PHOTO: Twitter

SENIOR South African Reserve Bank official Unathi Kamlana has been appointed commissioner of the regulatory authority for the financial sector by finance minister Tito Mboweni.

He will head the Financial Sector Conduct Authority (FSCA) for a period of five years.

Mboweni has also appointed Astrid Ludin as deputy commissioner for a five-year term, saying in a media statement on Thursday that the two positions “are crucial in contributing towards the integrity of financial markets and institutions, and the fair treatment of customers by such institutions”..

“The Minister congratulates Mr Kamlana and Ms Ludin on their appointment to these important positions, which are crucial in contributing towards the integrity of financial markets and institutions, and the fair treatment of customers by such institutions,” National Treasury said in a statement.

“The Minister accepted the recommendations of the Shortlisting Panel, and after consultation with the Deputy Minister of Finance (Dr David Masondo) and the Director-General of National Treasury (Mr Dondo Mogajane), decided to appoint Mr Kamlana as Commissioner and Ms Ludin as a Deputy Commissioner.”

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

He worked extensively on the implementation of the Twin Peaks reforms from 2011 to 2018, having been part of the original team that proposed the new and tougher system for regulating the financial sector.

A former Deputy Registrar of Banks, he is a member of the Financial Stability Committee, the Standing Committee for the Revision of the National Payment System Act and Co-Chair of the Financial Markets Implementation Committee.

Kamlana holds a Master of Commerce degree in Taxation from Rhodes University, a Master of Science degree in Finance and Economic Policy from the University of London, a Bachelor of Commerce (Economics and Information Systems) degree from Rhodes University and a Higher diploma in Taxation Law from the University of the Witwatersrand.

Ludin, on the other hand, is currently the Head of the Financial Markets and Digital Innovation Practice at DNA Economics.

She is a former Deputy Director-General at the Department of Trade, Industry and Competition and was the Commissioner of the Companies and Intellectual Property Commission (CIPC) from May 2011 to April 2015.

As the Chief Executive Officer and Accounting Authority of the CIPC, she was tasked with the merger of two government components with different organisational cultures, and the modernisation of the office and its transformation into a regulator.

Ludin holds a Master of Arts degree in International Affairs from Columbia University in New York and a Bachelor of Arts (Honours) degree in Politics, Philosophy and Economics from York University (United Kingdom).

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