Public Service Commission Act, 1997
R 385
Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 9 : Information Gathering, Supervisory On-Site Inspections and InvestigationsPart 2 : Information gathering131. Information gathering |
(1)
| (a) | The responsible authority for a financial sector law may, by written notice to any person, request the person to provide specified information or a specified document in the possession of, or under the control of, the person that is relevant to assisting the responsible authority to perform its functions in terms of a financial sector law. |
| (b) | A supervised entity that has been given a notice in terms of paragraph (a) must comply with the requirements in the notice. |
(2)
| (a) | The responsible authority for a financial sector law may, by written notice to a supervised entity, require the supervised entity to provide specified information or a specified document in the possession of, or under the control of, the entity that is relevant to the responsible authority’s assessment of compliance by a supervised entity with, or risk of contraventions by a supervised entity of— |
| (i) | a financial sector law; |
| (ii) | a regulator’s directive issued by the responsible authority; or |
| (iii) | an enforceable undertaking accepted by the responsible authority. |
| (b) | The responsible authority may require the information or document to be verified as specified in the notice, including by an auditor approved by the responsible authority. |
| (c) | A supervised entity that has been given a notice in terms of paragraph (a) or (b) must comply with the requirements in the notice. |
| (3) | The responsible authority for a financial sector law may, for the purpose of gathering information relevant to its functions, engage in the activity commonly called "mystery shopping" in respect of financial products or financial services, and similar activities. |
