Regulatory Alerts2018-03-31
PF Circular 88: Participation in South African Government International Bond Issue
The Financial Services Board issued Circular 88 to authorize South African pension funds, administrators, and insurers to participate in the government's upcoming international bond offering. The circular confirms that bonds acquired through this issue qualify under Regulation 28 of the Pension Funds Act and will be classified within the 2.5% investment category. Participating funds must secure prior approval from the South African Reserve Bank's Exchange Control Department to facilitate the necessary foreign currency transfers.
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