Regulatory Alerts2021-12-27
Annual Regulatory and Supervisory Fees for Fund and Portfolio Managers
The Commission requires all registered fund and portfolio managers to pay annual supervisory and regulatory fees calculated daily on the net asset value of their managed portfolios. Collective investment schemes must remit a 0.2 percent supervisory fee, while discretionary and non-discretionary funds pay 0.25 percent for retail investors and 0.01 percent for qualified investors, with all payments due annually by January 31 starting in 2022. Late submissions will incur a N100,000 base penalty plus a daily N5,000 charge until full payment is made.
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