National Treasury has appointed Olano Makhubela interim commissioner of the Financial Sector Conduct Authority (FSCA) for a period of three months starting November 6.

He is currently the divisional executive for retirement funds supervision at the authority and will continue with these responsibilities while serving as the commissioner.

Makhubela’s appointment comes as Advocate Dube Tshidi’s term as interim commissioner ends on November 5. In turn, Tshidi’s term followed on the resignation of Abel Sithole, who had served in this position from April 2018.

While the process for the appointment of commissioner and deputy commissioners of the FSCA is in progress, the position vacated by Sithole will be rotated between members of the Transitional Management Committee (TMC) for a period of three months each.

Makhubela had been a member of this committee since its inception in April 2018 and joined the precursor of the FSCA, the Financial Services Board, as deputy registrar of pension funds on October 1, 2017.

He had also served the National Treasury from 2000 to 2017 as chief director for financial investments and savings.

Meanwhile, treasury also announced that four members of the TMC have indicated their intention to retire in the next three to six months.