Regulatory Alerts2021-11-19
FSCA Communication 20 of 2021 (RF) – Conditions for Investment in Hedge Funds
The Financial Sector Conduct Authority (FSCA) has withdrawn its draft Conduct Standard on conditions for retirement fund investments in hedge funds following a targeted reassessment. The Authority determined that existing safeguards under Regulation 28 and the Pension Funds Act already adequately restrict potential losses, mandate registered managers, and require expert board advice, making the proposed conditions superfluous. Retirement funds will therefore continue operating under current regulatory frameworks without adopting the additional constraints originally outlined in the 2020 draft.
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