Regulatory Alerts2018-03-31
Information Circular 2 of 2012: Regulation 28 Monitoring of Compliance
The Financial Services Board requires pension fund boards of management to implement appropriate systems and monitoring mechanisms to ensure continuous compliance with Regulation 28 of the Pension Funds Act. Boards must confirm that service providers maintain adequate processes and obtain quarterly and year-end compliance reports along with detailed portfolio holdings. If these monitoring systems are properly implemented, daily reporting of portfolio holdings is no longer necessary for compliance purposes.
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