80 likes | 92 Views
Trust in trusteeship. Michelle David Director Norton Rose Fulbright South Africa. Are you in the circle?. Risk v Reward. • Personal liability: decisions in Medshield and Afrisure • Remuneration: what is the current position “Fortune sides with him who dares” Virgil. On-going debate.
E N D
Trust in trusteeship Michelle David Director Norton Rose Fulbright South Africa
Risk v Reward • Personal liability: decisions in Medshield and Afrisure • Remuneration: what is the current position “Fortune sides with him who dares” Virgil
On-going debate • Circular 45 of 2011 – CMS discussion paper on remuneration ― uniform approach to remuneration • BHF submissions on discussion paper ― no to a one size fits all approach
Recent activity PWC survey on trustee remuneration Recent court decisions • CMS v Liberty Medical Scheme and Advocate Boyce Mkhize • Barnard and Others v Registrar of Medical Schemes • Registrar of Medical Schemes v Sizwe Medical Fund • Pienaar v Council for Medical Schemes Are these decisions indicative of trustee performance?
Enhanced regulation? Proposal on King II Current fiduciary duties of trustees Does the industry need more regulation?
Conclusion • What should boards be considering? • What can the Registrar do?