Regulatory Alerts2024-01-01
Financial Services (Licensing and Operations of Transfer Secretaries) Directive 2024
Issued by the Registrar of Financial Institutions, this Directive establishes comprehensive licensing and operational standards for transfer secretaries in Malawi. It mandates specific corporate governance structures, robust electronic information systems, and strict record-keeping and dividend payment obligations to ensure market integrity. The framework details application and renewal procedures, grounds for licence suspension or revocation, administrative penalties of up to K30 million, and a formal appeals process, effectively replacing the 2015 regulations.
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