FSCA upholds decision to remove board members and impose penalties on them in their personal capacity, saying the ruling has far-reaching implications.
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.
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.