Regulatory Alerts2021-11-10
Added · Updated
FM.S.3.4 Information About an Issuer and Securities Being Issued
The Namibia Financial Institutions Supervisory Authority issued Standard FM.S.3.4, requiring regulated persons to disclose comprehensive issuer and securities information to clients or potential clients when selling securities. The mandate specifies mandatory disclosures regarding issuer history, financial statements, capital structure, security rights, use of proceeds, and potential conflicts of interest, with offer documents required within a reasonable period before the closing date. Regulated persons must ensure the disclosures are truthful, suitable for client risk profiles, and promptly updated upon material changes, subject to NAMFISA directives and penalties for contraventions.
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