Regulatory Alerts2023-02-07
Added · Updated
Draft Proposed Standards Under the Financial Institutions and Markets Act, 2021
The Namibia Financial Institutions Supervisory Authority (NAMFISA) has published draft proposed standards under the Financial Institutions and Markets Act, 2021 to establish comprehensive regulatory requirements for financial institutions and intermediaries. These standards mandate the implementation of written fair-treatment policies, clear information disclosure, proper advisory practices, effective complaint mechanisms, and robust privacy and data protection measures across all financial services. All affected entities are invited to submit written representations within thirty days, with public feedback directly determining whether the standards will be adopted in their original or modified form.
Topics
consumer
privacy
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