Regulatory Alerts2020-10-09
FSCA Conduct Standard 5 of 2020 – Conditions for Smoothed Bonus Policies to Form Part of Default Investment Portfolios
The Financial Sector Conduct Authority (FSCA) issued Conduct Standard 5 of 2020 to prescribe specific compliance conditions for smoothed bonus policies seeking inclusion in default investment portfolios. The standard aligns these policies with the Pension Funds Act definition, ensuring they meet regulatory requirements for retirement fund investments. Published alongside supporting consultation and impact statements, the directive provides clear operational guidelines for financial institutions managing default portfolios.
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