Regulatory Alerts2022-06-25
Added · Updated
Critical Regulations and Standards for Immediate Implementation After Act is in Force
The National Authority for the Financial Services Industry (NAMFISA) has issued critical regulations and standards that mandate immediate implementation following the enactment of the parent Act. These rules establish comprehensive frameworks for capital adequacy, registration, financial reporting, and governance across insurance, financial markets, collective investment schemes, retirement funds, friendly societies, and medical aid funds. Regulated entities must now comply with detailed requirements regarding asset-liability valuation, investment limits, fiduciary duties, and ongoing compliance reporting to maintain their operational licenses.
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