Regulatory Alerts2025-01-01
Pension (Corporate Governance Requirements for Pension Entities) Directive 2025
Issued by the Registrar of Financial Institutions under the Pension Act, this Directive establishes comprehensive corporate governance standards for Malawian pension entities including administrators, trustees, and funds. It mandates minimum board compositions with resident independent directors, requires operational committees like audit and risk management, and enforces strict rules on shareholder restrictions, internal audits, and executive succession. Non-compliance triggers substantial monetary penalties of up to K50 million for entities and K10 million for individual directors or trustees.
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