2021-11-11

GEN.S.10.16 – Imposition of Penalties on List Applicants

The regulator issued GEN.S.10.16 to establish the formal framework for imposing financial penalties on list applicants. The rule outlines specific criteria, calculation methodologies, and procedural requirements that authorities must follow when determining penalty amounts. It also clarifies the enforcement process, ensuring consistent application of sanctions across all listed entities while providing clear avenues for appeal and compliance.

Namibia

Namibia Financial Institutions Supervisory Authority

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Create Date November 11, 2021

Last Updated October 22, 2024

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