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Not so new guy

29 June 2005 Angelo Coppola

Minister Trevor Manuel has appointed Rob Barrow as the new Executive Officer of the FSB, effective 1 July 2005, after the news that Jeff van Rooyen had resigned.

Barrow, a chartered accountant, has been with the FSB since 1997 as the deputy executive officer responsible for the supervision of the South African Capital Markets and Collective Investments Schemes Industry.

Van Rooyen, a chartered accountant, resigned with effect from 30 June 2005 after five years to return to the private sector.

It was also announced that van Rooyen will take a voluntary gardening leave’ for three months in the interests of promoting good corporate governance.

Quick Polls

QUESTION

The second draft amendments to Regulation 28 will allow retirement funds to allocate up to 45% of their assets to SA infrastructure, with a further 10% for rest of Africa; but the equity & offshore caps remain unchanged. What are your thoughts on the proposal?

ANSWER

Infrastructure? You mean cash returns with higher risk!?!
Infrastructure cap is way too high
Offshore limit still needs to be raised
Who cares… Reg 28 does not apply to discretionary savings
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