Regulatory Alerts2020-06-25
Added · Updated
Critical Regulations and Standards for Immediate Implementation After Act is in Force
Issued by NAMFISA, these critical regulations and standards mandate immediate implementation across insurance, financial markets, collective investment schemes, retirement funds, friendly societies, and medical aid funds following the Act's commencement. The framework establishes comprehensive registration, capital adequacy, and financial reporting obligations while defining investment limits, governance rules, and compliance procedures for all regulated entities. It further standardizes fair client treatment, outsourcing practices, fiduciary responsibilities, and penalty mechanisms to ensure sound financial positions and transparent market operations.
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