Regulatory Alerts2019-09-26
FSCA RFSD Conference Keynote Address by Olano Makhubela (12 September 2019)
The Financial Sector Conduct Authority (FSCA) issued this keynote address to direct South African retirement fund trustees toward enhanced conduct, cost efficiency, and proactive governance. Trustees must integrate environmental, social, and governance (ESG) criteria into all investments under Regulation 28, ensure value for money through industry consolidation, and comply with Directive 8 to prevent service provider gratification. The regulator will enforce these standards through intrusive monitoring, penalties for late statutory returns, and streamlined procedures for terminating dormant funds and recovering unclaimed benefits.
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