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Cape Town - Finance Minister
Pravin Gordhan will set up a Financial Stability Oversight Committee, which he will chair jointly with SA Reserve Bank governor
Gill Marcus and the Council of Financial Regulations.
The cabinet's decision was announced on Friday morning by government spokesperson
Jimmy Manyi.
According to the announcement, the establishment of the committee was to strengthen macro prudential regulation of foreign exposure and framework for the regulation of direct foreign investment.
"Cabinet noted a request that a financial charter summit will be reconvened and that a series of bills will be presented to Cabinet during 2011, 2012 and 2013 to give effect to the principles outlined in the key document," Manyi said.