New era for fund administration: unpacking Conduct Standard 2
Trustees and administrators face a modernised regulatory framework designed to raise standards, strengthen accountability, and ensure fair outcomes for members.
Trustees
Trustees sue auditors for R147m over alleged N-e-FG fund mis-investment
The trustees allege Forvis Mazars failed to detect that retirement fund money was not invested according to mandates.
FST upholds FSCA’s revocation after employer trustees excluded from vote
The Tribunal agrees with the Authority that the rule amendment was void because the employer-appointed trustees were asked to leave the meeting during the deliberations.
Benefit allocation | When may a retirement fund consider DNA testing?
When the paternity of a retirement member’s child is in doubt, boards must tread a fine line between equitable distribution and undue intrusion.
SARS ramps up scrutiny as trust and provisional tax filings surge
With more tax returns submitted, SARS is intensifying efforts to ensure full compliance, particularly among trusts, using AI and data-driven enforcement.
Tribunal criticises FSCA for missteps in oversight of retirement fund
The FST orders the FSCA to reconsider key decisions regarding the Municipal Employees Pension Fund, saying the regulator overstepped its authority.
FSCA to act against trustees who haven’t completed Training Toolkit
The Authority has issued a request for up-to-date information on trustees so it can check whether they are compliant.
BHI Trust fallout: beneficiaries reluctant to return millions amid sequestration scrutiny
Investors’ money was allegedly funnelled through offshore trust accounts and ‘cleaned’ via extensive gambling activities by ‘close and related-party enablers’.
Why retirement fund trustees should pay attention to the newly signed Companies Amendment Bills
The Companies Amendment Bills impose crucial changes to remuneration disclosure and shareholder approval that trustees must integrate into their governance practices.
CMS webinars for brokers, trustees, and medical scheme employees
The Council will provide a CPD-accredited training session for newly appointed healthcare brokers in August.
New deadlines for completing the Trustee Training Toolkit
The FSCA has launched the second and final batch of the 22-module online course for board members of retirement funds.
CMS training for new medical scheme trustees
The induction programme takes place online over two days in February.
Deadlines to complete new Trustee Training Toolkit’s first 11 modules
The FSCA plans to release the remaining modules in March 2024.
CMS training for newly appointed trustees of open medical schemes
The induction programme takes place online over two days.
FIC issues guidance for trust and company service providers
Persons who are trustees in their personal capacity only are not accountable institutions.
TCSP guidance welcome, but grey areas remain, says FISA
It may not always be clear when someone has crossed the line into carrying on the business of creating a trust arrangement for a client.
New Trustee Training Toolkit will come online in September
A trustee must attain TKK certification within six months from the date of appointment or election to the board.
