Regulatory Alerts2023-09-27
FSCA Launches New Trustee Training Toolkit for Retirement Fund Board Members with Completion Deadlines
The Financial Sector Conduct Authority (FSCA) has launched a mandatory new Trustee Training Toolkit to enhance the fiduciary skills and governance of retirement fund board members. The updated toolkit replaces the previous version and requires all trustees to complete its first eleven modules, with existing members meeting a six-month deadline from the notice publication and new appointees completing them within six months of their election or appointment. These mandatory training requirements are enforced under Conduct Standard 4 of 2020 to ensure trustees maintain prescribed skill levels throughout their terms.
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