Some high profile cases of abuse, such as the Fidentia matter, have highlighted the need for tighter financial sector laws, better enforcement capability and improved co-ordination between various regulators and statutory bodies in the financial sector. National Treasury has commenced a process whereby lacunae in statutes and co-ordination between regulators can be improved. This work is on-going, but there are a number of important interventions which can be made at present in order to provide consumers with increased peace of mind and protection.
Madam Speaker, I must mention that none of what is proposed impedes our criminal justice process, and in fact assists it. It is my unwavering belief that white collar criminals who steal from all and sundry, but especially from blue collar workers, must spend time in jail!
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