Regulatory Alerts2025-04-04
Conduct Standard Prescribed for Pension Fund Benefit Administrators
The Financial Sector Conduct Authority (FSCA) issued this consultation report finalizing the Conduct Standard that prescribes regulatory conditions for licensed pension fund benefit administrators. Addressing over 350 public submissions, the Authority implemented targeted amendments clarifying definitions, simplifying auditing and capital adequacy requirements by removing the R3 million threshold, eliminating the responsible key person concept, and permitting group-level governance policies. These revisions ensure seamless alignment with the upcoming Conduct of Financial Institutions Bill while preserving existing compliance obligations and establishing a structured transitional period for newly enhanced regulatory requirements.
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