Regulatory Alerts2023-04-05
Added · Updated
Breakdown of Industry Comments on Chapter 7 (Medical Aid Funds)
NAMFISA has finalized its review of industry comments on Chapter 7 standards governing medical aid funds and brokers, accepting most proposed amendments to registration and cancellation procedures. The revised clauses clarify application requirements, mandate electronic submissions, and align terminology with the Financial Institutions Act to reduce compliance burdens. Furthermore, the updated governance framework refines conflict of interest definitions and board responsibilities while preserving flexibility for funds to adopt recognized corporate codes.
Topics
Share