FSB lifts suspension of pensions administrator
15 September 2006 | Compliance - Regulatory | Financial Sector Conduct Authority (FSCA) (was FSB) | FSB
The Financial Services Board (FSB) has lifted the suspension of the approval of IME Actuaries and Consultants (Pty) Ltd (IME) to act as professional benefit administrators of pension funds.
In June the registrar of pension funds suspended IMEs approval as a benefit administrator after a complaint from a pension fund that IME had overcharged the fund.
Following discussions between IME and the FSB, the matter had been resolved to the satisfaction of the Registrar of Pension Funds, and as a consequence, IMEs suspension was lifted.
