Regulatory Alerts2023-04-05
Added · Updated
Fund and Society Administrators Standards
The Namibia Financial Institutions Supervisory Authority publishes standards under the Financial Institutions and Markets Act, 2021, governing the registration, certificate issuance, and cancellation or variation of registration for fund and society administrators. Standard No. ADM.S.8.1 mandates that applicants submit specific forms and supporting documents, including fit and proper requirements and proof of fees, via the Electronic Regulatory System, with incomplete applications subject to rejection if not rectified within seven days. Standard No. ADM.S.8.2 requires the issuance of a certificate of registration upon approval, while Standard No. ADM.S.8.3 outlines the procedures for registered administrators applying to cancel their registration or vary its conditions. These standards apply to all fund or society administrators, their boards, and principal officers, and come into effect on the date of publication.
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