Edition: July / September 2016
Editorials

FIRST WORD

Disinvestment by foreigners accelerated the demise of the National Party government. SA’s relegation to junk-bond status can spark disinvestment by another name, instigating similar consequences that the ANC government would be foolish to ignore.
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CURRENTS

Potential vulnerability of pension funds; Financial Services Board hits back at Rosemary Hunter; Call for FSB to tighten confidentiality; Pitiful pay for trustees; King IV drafts special focus for retirement funds; PIC opens up on its investment in Independent News & Media.
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COVER STORY

No holds barred in punch up at the Financial Services Board. Hard-hitting affidavits from the opposing parties set the stage for complex litigation. Much more at stake than employer-employee dispute. Revelations going to heart of the regulator’s competence and credibility are vigorously countered.
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FINANCIAL SERVICES

African Rainbow Capital gets out of the ground. Big advance in black economic empowerment. More likely to complement than compete with Sanlam.
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FUNDS SURVEY

The retirement funds of trade unions have several unique features. One is their reluctance to join umbrellas. Reason is their desire to retain “control”.
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CLASS ACTIONS 1

Solidarity trade union wants GEPF members to join it in fight for improved withdrawal benefits.
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CLASS ACTIONS 2

First judgment in the R200bn litigation by pensioners against Transnet funds. Successes for both sides in early skirmish.
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RIGHT OF REPLY

Tony Mostert defends 13-year curatorship of the Saccawu national provident fund. Partially succeeds in complaint to Press Ombud about TT article.
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ZUMA 1

Open letter to Pravin Gordhan about SARS and the FSB. The integrity of both cannot be compromised, or be seen to be compromised.
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ZUMA 2

The integrity of the tax system means that all taxpayers be treated equally before the law. In the case of Nkandla, will we ever know?
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ZUMA 3

Public-sector bodies are squandering unquantified amounts on indefensible court actions. The more that’s spent in this way, the less is left for other fiscus priorities such a tax incentives for retirement savings.
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GRAVY

CalPERS head imprisoned for corruption.
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