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FSB denies offering Hunter golden handshake

January 25, 2016. Rosemary Hunter Pic: Russell Roberts. © Financial Mail.
January 25, 2016. Rosemary Hunter Pic: Russell Roberts. © Financial Mail.

The Financial Services Board has denied offering its Deputy Registrar of Pension Funds Rosemary Hunter a golden handshake to leave quietly.

The board made this submission in its answering affidavit to her court challenge in which she wants to force her employer to make public two reports on the way in which the board closed dormant pension funds.

In its answering affidavit‚ the board released all the reports that Hunter had requested when it filed its answering affidavit to her court challenge.

The board said its decision to engage Hunter on an amicable parting of ways was based on the fact that her relationship with its CEO Dube Tshidi and several of her colleagues had broken down irretrievably.

This impeded the ability of the FSB to effectively carry its mandate.

Hunter launched an application earlier this year following the problems in her relationship with Tshidi concerning the “cancellations project”.

The project was initiated by the Registrar of Pension Funds to cancel the registration of about 4500 registered pension funds which did not have boards and trustees.

Hunter‚ in her founding affidavit filed in the high court in Pretoria in January‚ said the root of problems between her and Tshidi was the legality of‚ and the manner in which‚ the cancellation project was conducted.

In her notice of motion‚ Hunter wanted the board to release a report produced in 2014 by Justice Kate O’Regan in relation to pension funds cancellation projects.

She also asked the court to order the board to release a report produced in July 2015 by KPMG.

In a statement on Tuesday‚ the board said it had taken all the steps to address Hunter’s concerns.

It said although questions were raised about technical issues regarding the cancellation of dormant funds‚ no improper conduct by any official of thee FSB was found.

In its affidavit‚ the board said it always sought to investigate and resolve all the numerous allegations levelled by Hunter‚ particularly those against Tshidi.

It first sought the assistance of Judge O’Regan‚ KPMG and independent specialist pensions lawyer Jonathan Mort of Mort Inc.

It said no evidence of corruption was found‚ either by KPMG or Mort or at all.

“The Board reiterates that despite all of the investigations by Ms Hunter‚ Judge O’Regan‚ KPMG and Mr Mort‚ nobody has come up with information or evidence suggesting that there had been dishonesty‚ bad faith or skulduggery of any kind.”

The board said it had attached all the reports in its answering affidavit.

“The Board had always intended to release these reports once all the investigations had been complete.”

 

 

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