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. | JanTamb News24_Business
The Financial Services Tribunal has lashed out at former board members of the Private Security Sector Provident Fund , saying they abused their positions for self-enrichment by organising hundreds of pointless paid board meetings.
The fund oversees the retirement, funeral and death benefits for South Africa’s private security guards. It has around 330 000 members and assets in the region of R11.5 billion.for improper conduct, including holding needless meetings and ignoring procurement policies. The members were Cobus Bodenstein, Zithulise Mqadi, Marchel Coetzee, Anna Maoko and Jonnes Hlatswayo.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FSCA vindicated in private security sector provident fund matterFinancial Services Tribunal upholds decision to remove trustees and principal officer from the Private Security Sector Provident Fund
Read more »
GROUNDUP: Corruption-accused company Siyaya was ‘stuck’ prior to Judge Makhubele intervention, tribunal hearsAdvocate argues it was not unusual for a Prasa board chairperson to take an interest in legal matters, but former legal head questions the manner of engagement.
Read more »
Africa Live: Ethiopia gives mobile money licence to Kenyan giant - BBC NewsM-Pesa now in Ethiopia? Ethiopia has issued Kenya’s telecom giant Safaricom a license to operate mobile money services, the first foreign firm to get such a permit in this populous nation. More here:
Read more »