Millions lost from Private Security Sector Provident Fu...
FSCA upholds decision to remove board members and impose penalties on them in their personal capacity, saying the ruling has far-reaching implications.
Source: dailymaverick.co.za
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Security guard pension board paid themselves for 493 meetings in a year
The Financial Services Tribunal says nine "incompetent" members of the fund that oversees the retirement benefits of security guards paid themselves unjustified fees for pointless meetings.
Source: news24.com
FSCA sanctions trustees of Private Security Sector Provident Fund
The officials were found to have failed in their fiduciary duties due to actions including paying themselves to attend a golf day
Source: businesslive.co.za
Watchdog orders massive fines, removal of trustees from security guards' retirement fund
SA’s financial watchdog has ordered that five members of the board of trustees of the Private Security Sector Provident Fund be removed for improper conduct, including receiving R8 000 for attending a golf day.
Source: news24.com