Regulatory Alerts2025-01-01
Pension (Licensing and Registration of Pension Entities) Directive 2025
Issued by the Registrar of Financial Institutions under Malawi’s Pension Act 2023, this directive establishes comprehensive licensing and registration requirements for pension funds, provident funds, administrators, custodians, investment managers, trustees, brokers, and advisors. It mandates specific minimum capital thresholds, asset size criteria for restricted funds, mandatory trustee certification within six months, and strict segregation of custodial assets alongside prohibitions on dual roles for administrators and investment managers. The directive outlines standardized application procedures, approval criteria, a twelve-month business commencement window, and enforceable monetary penalties for non-compliance, with existing entities granted transitional compliance periods.