Regulatory Alerts2019-06-03
Roles and Responsibilities of Trustees
The Financial Sector Conduct Authority’s Retirement Funds Supervision Division outlines the fiduciary duties, governance standards, and statutory obligations of pension fund trustees and principal officers under the Pension Funds Act. Boards of Trustees must exercise collective competency, maintain proper registers and control systems, protect members' interests, and actively manage risks while ensuring the financial soundness of their funds. Principal officers are required to be fit and proper, execute day-to-day management, implement board decisions, and serve as the central nexus for strategic execution, compliance, and ethical governance.
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