Regulatory Alerts2021-10-04
Added · Updated
Financial Institutions and Markets Act, 2021 (Act No. 2 of 2021)
The Parliament of Namibia enacted the Financial Institutions and Markets Act, 2021 to consolidate and harmonize national regulations governing financial institutions, intermediaries, and markets. The legislation establishes comprehensive registration, governance, and operational standards for insurance providers, financial exchanges, collective investment schemes, retirement funds, friendly societies, and medical aid funds. It empowers the Namibia Financial Institutions Supervisory Authority (NAMFISA) with extensive supervisory, enforcement, and market conduct powers while instituting a Financial Services Compensation Scheme to protect clients.
Topics
Share