The misalignment between the FSC benchmarks and stricter government employment equity targets is set to increase the transformation pressure on life offices and asset managers.
Challenges remain with the representation of black people in executive director roles, ASISA’s latest transformation report shows.
A failure to comply with specific BEE thresholds outlined in transformation plans could lead to the Authority withholding licences.
The entities will co-operate to improve the level of submission of compliance reports.
