FSCA Communication 28 of 2020 (RF) – Draft Conduct Standard on Pension Fund Contribution Payments

FSCA COMMUNICATION 28 OF 2020 (RF) Publication of draft Conduct Standard on Requirements related to the payment of pension fund contributions

1. PURPOSE The purpose of this Communication is to inform stakeholders that on 29 May 2020 the Financial Sector Conduct Authority (FSCA) published the following draft Conduct Standard and supporting documents in terms of section 98(1)(a) of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017) (FSR Act) for public comment: • Draft Conduct Standard - Requirements related to the payment of pension fund contributions (draft Conduct Standard); • Annexures, A, B, and C to the draft Conduct Standard; • Statement supporting the draft Conduct Standard; and • Comments Template.
2. INVITATION TO COMMENT ON DRAFT CONDUCT STANDARD 2.1 The draft Conduct Standard is to be issued in terms of section 106(1) of the Financial Sector Regulation Act, 2017 (Act No. 9 of 2017) and section 13A(2)(a), (6)(a), (7a), 7(b) and (10) of the Pension Funds Act, 1956 (Act No. 24 of 1956). 2.2 Interested parties are invited to submit comments on the draft Conduct Standard by 31 July 2020 to FSCA.RFDStandards@fsca.co.za. 2.3 The documents referred to in paragraph 1 are available on the FSCA’s website at www.fsca.co.za.
3. CONTACT For more information regarding the draft Conduct Standard and/or this statement please contact the Regulatory Framework Department of the Authority at Andile.mjadu@fsca.co.za or Tsepiso.Koto@fsca.co.za DATE OF PUBLICATION: 29 MAY 2020