Regulatory Alerts2021-11-10
Added · Updated
CIS.S.4.9 Requirements for the Exercise of Voting Power Conferred
The Namibia Financial Institutions Supervisory Authority mandates that managers and operators of collective investment schemes implement written voting policies to govern how they exercise voting rights attached to portfolio assets. These entities must prioritize investor interests, delegate or abstain only for documented reasons such as cost-benefit considerations, and maintain comprehensive voting records for a minimum of five years. Furthermore, the standard enforces fiduciary duties by requiring timely notification to regulators and investors whenever voting power is delegated, withheld, or exercised abroad.
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