Regulatory Alerts2025-01-10
Compliance With Unclaimed Financial Assets Act, 2011
Licensees and securities issuers must conduct continuous internal reviews of records to identify unclaimed assets and proactively notify potential claimants before remitting assets to the Unclaimed Financial Assets Authority. Organizations are required to formulate and implement formal unclaimed assets policies to ensure regulatory compliance and mitigate risks. All affected entities must implement these directives and submit evidence of compliance to the Unclaimed Financial Assets Authority by March 31, 2025.
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