Regulatory Alerts2019-01-01
Pension Funds Act, 2019
Enacted by the Parliament of Lesotho, this Act establishes a comprehensive regulatory framework for the registration, supervision, and dissolution of all pension funds operating within the country. It mandates that all pension fund businesses obtain formal registration, maintain financial soundness through actuarial oversight, and adhere to strict governance standards regarding board duties, investment policies, and asset protection. The Central Bank of Lesotho, acting as the Regulator, is empowered to conduct inspections, license administrators and intermediaries, enforce anti-money laundering measures, and impose penalties for non-compliance to ensure a stable and transparent pension industry.
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