The 2002 King code emphasised the critical role to be
performed by “well-trained active financial journalists”. As
time has marched on, their numbers have depleted and too
much is expected of them. King is weakened.
The pockets of everybody will be hit hard, and the poor
hardest, by a downgrade of SA’s sovereign credit to junk.
ASISA warns on the key numbers.
Former trustees of the IF umbrella funds must pay some
R18m for a data rebuild, the Adjudicator has ruled. Their
impending court challenge to her ruling has a bearing on all
There’s definitely a need for the think tank on corporate
ethics and governance that GIBS has introduced. It’s off to a
Fund rules in dispute as Solidarity takes on the Government
Employees Pension Fund. Now the Public Servants
Association has climbed in too.
There’s an ugly history in the administration of the Saccawu
national provident fund. The CCMA has endorsed the firing of
its most recent principal officer, and the way is being prepared for
governance normality to be restored.
UK proposal for company boards can resonate in SA;
Futuregrowth had courageously complied with CRISA;
Institutional support for ‘responsible investment’; R1,5bn
fine on ArcelorMittal will be paid by innocent investors
representing pension funds; Liberty’s planned REIT of its
swank Gauteng properties; Helpful textbook for trustees
and principal officers; Free Market Foundation opposes
imminent ‘Twin Peaks’ regime; Robo advisers battle for
Eskom certainly has poked the bees in its stance on
independent power producers. Myriad issues are at stake,
not least confusion over government policy. Because
pension funds have a direct interest in the outcome, their
voice must be heard in bringing Eskom and government
to confront financial realities.
About to reach the High Court, the points of departure
between the Financial Services Board and its erstwhile
deputy executive officer for retirement funds are set out.
Also explained is why the ‘cancellations project’ is so
important. Two top pension lawyers evidently disagree
on fiduciary duty and on acceptable practices of fund
Heat is on the Public Investment Corporation. There are
ominous signs that it will intensify unless powers-that-be
are seen to leave it alone.
When a fund member dies, trustees shouldn’t
automatically revert to their pension fund’s administrator.
There might be better providers of this specialist service.
Oh, to buy an expensive house on the cheap.