Editorials

FIRST WORD

Over R300m annually has to be spent, in terms of the Financial Sector Charter, to promote consumer financial education. Institutions will get stronger impact by acting together rather than individually.Read more...


LITIGATION

Standard Bank is vigorously defending a R500m action brought by the curator of the SA Commercial Catering & Allied Workers Union provident fund. The FSB, which controls curators, stands aside silently although all necessary reports had been regularly signed off..Read more...


REGISTRAR OF PENSIONS

Into the hot seat goes lawyer Rosemary Hunter. Her appointment is to be welcomed.Read more...


RETIREMENT FUND COSTS

The latest set of proposals from National Treasury focuses on charges. Yes, they must be brought down. But how? The paper is up for discussion that will be robust.Read more...


RETIREMENT FUND REFORM

And to help get the discussion going, here are the views of Rob Rusconi whose research and arguments preceded the Treasury paper. The controversies he stirred have become mainstream.Read more...


COVER STORY

Bigger storms here, smaller storms there. The Financial Services Board, about to become a ‘twin peaks’ regulator, has a lot of explaining to do. Subjects range from the court case of J Arthur Brown and the conduct of curatorships to more mundane supervisory matters that it routinely confronts. Often, it claims to be misunderstood. TT asks some hard questions and gives executive officer Dube Tshidi the space to answer.Read more...


INTERMEDIARIES

A trade-union provident fund is hit, in favour of a manager, when the Supreme Court of Appeal draws the distinction under FAIS between an “intermediary service” and “financial advice”.Read more...


CURRENTS

JSE weakens in dollar terms; Mancos for umbrella funds; Costs comparison for standalones; ConCourt rules on damages for surplus-stripping “wrongdoers”; Youth without pension savings; Who’ll pay the carbon tax; Guaranteed versus living annuities; Mostert and Nash in another scrap; Curators should report publicly; But sometimes they don’t; A word from the Akani and Letjane lawyers.Read more...


PERSONAL LIABILITY

Appeal tribunal rules that five trustees of the IF umbrella funds had, by their poor management, caused financial loss to the funds and so they themselves must pay some R20m for the costs of a database rebuild.Read more...


RESPONSIBLE INVESTMENT 1

An international conference of the UN-supported Principles for Responsible Investment is soon to be held in Cape Town. PRI executive director James Gifford offers a preview with particular relevance to SA.Read more...


RESPONSIBLE INVESTMENT 2

Principal Officers Association and International Finance Corporation are about to release a practical guide that trustees will find invaluable. It’s part of the government-approved Sustainable Returns project.Read more...


COMPETITION COMMISSION

Having admitted to tender collusion, stars of the JSE construction sector will have to pay hefty fines. But effectively it’s their shareholders, substantially including retirement funds, who’ll be paying. This could present a real test for stakeholder activism.Read more...


SOCIAL INVESTMENT

Meet Ruth Benjamin-Swales, head of the new ASISA Foundation. She’ll be spearheading drives that emanate from the Financial Sector Charter.Read more...


FUND COSTS DEBATE

Look more closely at risk premiums and administration expenses, delegates to the POA conference were urged by Erich Kröhnert, because they’re critical to the structural changes ahead.Read more...


DEFAULT OPTIONS

What type of annuity is better? At the POA conference, Trevor Abromowitz set out some of the crisp issues for trustees to consider.Read more...


ASSET MANAGERS

National Treasury wants to simplify the complexities in retirement-fund fee structures. Steve Price offers explanations for the layman.Read more...


GRAVY

A matter of policy.Read more...


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