# The Financial Sector Conduct Authority has launched an investigation into the Public Investment Corporation, days after the PIC board placed CEO Patrick Dlamini on precautionary suspension following allegations of impropriety. The PIC is Africa’s largest asset manager and oversees 3.6-trillion-rand in government pension and social insurance funds. The FSCA says it has become increasingly concerned by recent developments at the PIC, particularly those relating to governance, leadership stability, transparency, and the potential impact on the integrity and confidence in one of South Africa’s important financial institutions.
Financial regulator FSCA is set to probe the Public Investment Corporation