Regulatory Alerts2021-11-10
Added · Updated
Actions That NAMFISA May Take Against Managers and Foreign-Connected Persons
The Namibia Financial Institutions Supervisory Authority (NAMFISA) issued Standard CIS.S.4.6 to require regulatory oversight and enforcement actions against managers and persons connected with foreign countries facing suspension, disqualification, or restrictions abroad. The standard authorizes NAMFISA to serve disclosure notices, conduct inspections, restrict or restore investment solicitation rights, and cancel or vary registrations based on findings and mandatory representations. Applicable to collective investment schemes operating in Namibia, it ensures public disclosure of enforcement measures while protecting investor interests through structured representation processes prior to final regulatory decisions.
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