Thank you, Madam Deputy Speaker ...
... batlotlegi mo Ntlong, maloko a Komiti ya Matlotlo, ke a lo dumedisa. Go thata gore ke bue morago ga Tona gonne a setse a tlhagisitse dintlha tse dintsi tse ke neng ke rata go bua ka tsona, ke di tlhagisetsa Ntlo. Ke tla leka ka bojotlhe gore ke di beye ka Setswana mme mo ke palelwang teng, ke tla di bua ka Sejatlhapi.
Molaotlhomo o re o sekasekang gompieno fa, ke Molaotlhomo o o lekang go fetola tsamaiso ya melawana ya matlotlo, o o welang ka fa tlase ga Financial Services Board le SA Reserve Bank, mme molawana o, ke wa General Financial Services Laws Amendment Bill. O leka go fetola molao wa tsamaiso ka fa tlase ga melao e e lateng; Financial Services Board Act, Pension Funds Act, Protection of Funds Act, Friendly Societies Act, South African Banks Act, South African Reserve Bank Act, Securities Services Act, Long- term Insurance Act, Short-Term Insurance Act, Co-operative Banks Act le National Veld and Forest Fires Act.
Go botlhokwa go lo itsise gore ditlhabololo tsa melawana e, di simolotswe ka 2007 ke balaodi ka go farologana mo intasetering ya rona ya matlotlo go thiba diphatlhana tse di itshupileng tse di tlisang tiriso e e botlhaswa ya tsamaiso mo intasetering. Botlhokwa jwa diphetogo tse bo tla re thusa gore re itepatepanye le tlhokego e kgolo ya go podisa kgotsa go tlhamalatsa tsamaiso e e sokameng le go gakala ga ditiro tsa bobodu le tsietso mo intasetering ya rona ya matlotlo jaaka go diragetse ka Fidentia le Leaderguard. Gantsi ba ba amegang mo ditiragalong tse ke badirisi mme molao o leka go ba sireletsa le go netefatsa gore molao o, o diragadiwe ka gale.
Fa o lebelela molao wa Financial Services Board o tla fitlhela gore molao o ga o tle ka tsamaiso e e netefatsang gore go nne le kgatelelo ya go diragadiwa ga molao, ke gore "enforcement". Kgatelelo ya tiriso ya molao o e fitlhela fela mo tshireletsong ya matlotlo, e e lebelelang gore a go na le kgwebisano ya mmaraka kgotsa go na le bothata ba go sa direleng batho sentle. Molawana o re o lebelelang gompieno o leka gore re kgone go kitlana, re tswale diphatlhana tseo.
Jaaka go ntse jalo, Financial Services Board e tlile go natlafadiwa ka go tlisa komiti ya tirafatso e e tla netefatsang gore batho botlhe ba ba tlisang ditirelo tsa matlotlo jaaka diin?orense, diborokhara, jalo le jalo, ba tlile go bona tlhokomelo e e lolameng. Tlhokomelo eo e tla dira gore ba tlise ditirelo ka fa tlase ga tsamaiso e e tlhamaletseng ya molao.
Financial Services Board Enforcement Committee e tlile go bona maatla a go ka tlisa dikotlhao tse di tlhokegang, kgotsa go fa ditaelo tsa go tlhatswa diatla. Dikotlhao tseo di tla tlisiwa ka nako e khutshwane. Ga go kitla go tsaya sebaka jaaka re itse gore Financial Services Board jaanong jaaka e sena komiti ya tirafatso, bontsi ba melawana ya yona e ntse e ya kwa kgotlatshekelo fa batho ba paletswe ke go diragatsa molao. Jaanong Financial Services Board e tla kgona go diragatsa le go rarabolola mathata a a amang baagi. Fa komiti ya tiragatso e setse e le mo tirisong e tla kgona go tsaya tshweetso e batho ba ka kgonang go ikuela kgatlhanong le yona kwa High Court.
Selo seo se tlile go re thusa gore re nne le tsamaiso ya matlotlo e e nang le seriti mo Aforika Borwa, e bile e dira gore batho ba nne le tshepo mo tsamaisong ya rona ya matlotlo. E tlile go kganela bogodu kgotsa tsamaiso e e sa lolamang ya matlotlo. E tla feleletsa e sireletsa badirisi le go netefatsa gore balaodi ba rona ba nna le maatla kwa ba leng teng.
Go na le mo go buiwang ka Appeal Board, e leng kwa batho ba ka kgonang go ikuela teng kgatlhanong le ditshweetso tse di tserweng kwa komiting ya tiragatso. Appeal Board e tla nna komiti e e eteletsweng pele ke baatlhodi kgotsa babueledi ba ba rotseng tiro, fela ga e tsamaisane thata le komiti ya tirafatso. Go tlile go kgonega gore fa komiti ya tirafatso e tsaya tshweetso mme motho a bona go le botlhokwa gore a ikuele kgatlhanong le tshweetso e e tserweng, e bo e kgona go dira seo ka nako e khutshwane e bile e somarela ditshenyegelo.
Fa o sekaseka, Financial Services Board e na le tetla ya go tlhopa batsamaisi ba tirelo ya matlotlo ba ba tshwanetseng go nna le nonofo le tolamo, e nne batho ba ba se nang mokgwanyana o o bofitlha wa go ka tsietsa baagi.
Go ya ka fa Tona a setseng a buile ka teng re tlile go tlhoka gore Financial Services Board fa e tlhopha kgotsa fa e naya batho bao dilaesense e bo e itse gore ke eng se batho ba se tlhokang tota. Ka tsamaiso eo Financial Services Board e tlile go kgona go latedisisa batlamedi ba matlotlo ba ba bonweenwee. (Translation of Setswana paragraphs follows.)
[... hon members of this House, members of the Finance committee, I greet you. It is difficult to speak after the Minister has spoken because he has already pointed out most of the facts that I wanted to elaborate on before this House. I will try to present them in Setswana but where I find it difficult, I will resort to English.
The Bill we are analysing here today falls under the General Financial Services Laws Amendment Bill. It tries to change the procedures under the following Acts: Financial Services Board Act, Pension Fund Act, Protection of Funds Act, Friendly Societies Act, South African Banks Act, South African Reserve Bank Act, Securities Services Act, Long-Term Insurance Act, Co-operative Banks Act and the National Veld and Forest Fire Act.
It is also important to inform you that this Bill's Amendments were started in 2007 by various leaders in the Finance industry with the intention of plugging the obvious loopholes that might lead to the flouting of the procedures in the industry. The importance of these amendments is to deal efficiently with the irregularities in the financial industry, as happened with Fidentia and Leaderguard. In most cases, the consumers are the ones affected in these irregularities; hence the Act will ensure that amendments are implemented to protect them.
In principle, the Financial Services Board Act seems not to specify its enforcement. This is only found in securities finance where you find that there are business dealings with the market or there is a problem of consumers care. With this Bill we are trying to close those loopholes.
As it is, the Financial Services Board will have a committee that will ensure that all insurance and brokers are well taken care of. Furthermore, this will ensure that they deliver services under the correct procedures of the Act.
The Financial Services Board Enforcement Committee will have powers to implement penalties or to compensate the consumers. The expectation is that these penalties will be implemented soon. The Financial Services Board will be able to implement and explain the problems experienced by residents. People will be able to make an appeal to the High Court against the decisions taken by this committee.
These amendments will help us to have a respected Financial Authority in South Africa, which can help people to have confidence in our handling of finances. Furthermore, it will also protect the consumers and ensure that the authorities do have powers wherever they are.
The Appeal Board, which is mentioned somewhere in the Bill, will be a committee that consists of retired judges and lawyers, but its functions are not similar to that of the Portfolio Committee. It will make it possible and less expensive for a person who would like to make an appeal. The Financial Services Board has permission to elect a financial services authority that is effective and fair - people with no hidden agendas and intention of cheating residents.
According to what the Minister has said, the Financial Services Board must ensure that it really knows what the needs of the people are before it elects or gives licences. The Financial Services Board will be able to follow up on dishonest service providers.]
In that case, we'll be able to get people on time. It's just a radical shift which will help the Financial Services Board not to operate on complaints only.
E tlile go kgona go tlhatlhoba mafelo a a jaaka dibanka le diin?orense go tlhola gore go diragala eng, gore a batho ba rona ga ba tsiediwe mme e bo e tsiboga ka nako. Go na le ntlha e nngwe e molawana o o e tshitshinyang gore re tshwanetse re tlhagise botlhe ba ba nang le boferefere kgotsa botsukunape ba dirisa Financial Services Board jaaka leotwana la go dira madi. Batho ba ba fitlhelwang ba dira jalo ba tshwanetse go tlhagisiwa mo dikuranteng le mo thelebi?eneng re bone gore ke bomang, re ba itse re kgone go ba tshaba. Seo se bidiwa ... (Translation of Setswana paragraph follows.)
It will be able to oversee institutions like banks and insurance companies, go and check what is really happening, and if it is discovered that people have been cheated, it will act efficiently and effectively. The Bill suggests that those who use the Financial Services Board as a wheel to make money must be exposed through newspapers and television so that we can avoid them. That is referred to as the ...]
... naming and shaming of financial services providers.
Ke a leboga. ANC e dumalana le Molaotlhomo o. [Legofi.] [Nako e fedile.] [Thank you. The ANC supports the Bill. [Applause.] [Time expired.]]