FSCA vindicated in private security sector provident fund matter
Financial Services Tribunal upholds decision to remove trustees and principal officer from the Private Security Sector Provident Fund
12 May 2023 - 14:07
The Financial Sector Conduct Authority (FSCA) decision in 2022 to fine members of the board of trustees of Private Security Sector Provident Fund (PSSPF) has been vindicated.
In August the regulator imposed administrative penalties on several PSSPF trustees and removed others from its board for a string of suspect actions ranging from improper procurement practices to remunerating themselves for attending a golf day. Several of the sanctioned individuals applied to the Financial Services Tribunal (FST) for reconsideration but the FSCA’s decision was upheld in a decision on May 9...
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