Under regulation 8.02B of the SISR, trustees must ensure that all fund assets are reported at market value in the financial statements. Valuations must be based on objective and supportable data, with sufficient documentation retained to substantiate the value adopted.

Under Section 65 of the SIS Act Providing financial assistance to members or their relatives is strictly prohibited, This includes both formal arrangements and informal or undocumented transactions that result in a direct or indirect benefit.

Under regulation 4.09A of the SISR, trustees are required to ensure that the assets of the fund are clearly identifiable and maintained separately from the personal assets of members and those of related entities. This includes ensuring legal ownership and correct registration in the name of the fund.

Under regulation 4.09 of the SISR, trustees are required to formulate, regularly review, and give effect to an investment strategy that considers the risk, return, liquidity, diversification, and insurance needs of the fund. Failure to adequately document or implement this strategy may result in a compliance breach.

Under section 109 of the SIS Act, all transactions of the fund must be conducted on an arm’s length basis. Non-arm’s length terms may give rise to compliance issues and potential tax implications.

‍

Under regulation 13.18AA of the SISR, collectables and personal-use assets must meet strict storage, insurance, and usage requirements. Non-compliance may result in a breach.

‍