NCR CALL ON FSB TO STOP SAYING THEY WILL BE TAKING OVER
The National Credit Regulator (NCR) have stated that they are not going to be incorporated into or moved into the Financial Services Board (FSB). The NCR are not happy with comments made by Mr Jonathan Dixon, Deputy Executive Officer of the FSB in an article published in the Citizen newspaper this week which says that the NCR could move to the Financial Services Board (FSB) with the introduction of what is called the twin peaks regulation model.
The NCR claim that the article is intended to undermine them and the confidence which the public and regulated persons and entities have in the NCR. They say this is being done by the FSB casting doubt about the NCR’s future existence. They have said ‘It is unfortunate that the FSB is at the forefront of these efforts to undermine the NCR and the National Credit Act.‘
The NCR are appealing to the FSB to desist from undermining them through the media and other forums. The NCR say they will continue to fulfil their legislative mandate of protecting consumers.