Regulatory Alerts2023-04-05
Added · Updated
Chapter 8 Breakdown: Industry Comments on Administrators
NAMFISA issued this regulatory breakdown to address industry feedback on the registration requirements for fund and society administrators under standard ADM.S.8.1. The document mandates differentiated information submissions for existing versus new administrators, clarifies undefined terms like "Authority", extends response timelines to fourteen working days, and streamlines duplicate Schedule 2 clauses. Accepted amendments reduce administrative burdens while preserving the Registrar’s ability to verify fitness, propriety, and financial viability through targeted documentation and FIA compliance measures.
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