Regulatory Alerts2025-04-15
Licensing Guidelines for Pension Brokers
The Reserve Bank of Malawi’s Pension and Insurance Supervision Department has issued licensing guidelines to standardize the application, assessment, and approval process for pension brokers. Applicants must submit completed forms, detailed business and financial plans, governance documentation, and certified supporting documents alongside a non-refundable assessment fee. The guidelines mandate operational commencement within six months, require annual licence renewals by January with updated financials and insurance evidence, and impose penalties for late submissions.
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