Regulatory Alerts2026-01-01
Pensions (Superannuation Funds and Retirement Schemes) (Registration, Licensing and Reporting) Regulations, 2006
The Financial Services Commission, with ministerial approval, issued these regulations to establish mandatory registration and licensing frameworks for superannuation funds, retirement schemes, trustees, administrators, investment managers, and responsible officers. The rules impose strict operational conditions, including capital adequacy, professional indemnity insurance, fit-and-proper criteria, and detailed application procedures across multiple categories. Furthermore, they mandate comprehensive periodic reporting, requiring audited financial statements, certified financial returns, annual reports, and quarterly fund status submissions within specified deadlines, while outlining clear protocols for business discontinuation and transitional compliance.