Regulatory Alerts2021-11-11
Added · Updated
General Definitions under the Financial Institutions and Markets Act, 2021
The Namibia Financial Institutions Supervisory Authority issues these General Standards to establish foundational definitions and compliance requirements for registered financial institutions, intermediaries, and industry participants under the Financial Institutions and Markets Act, 2021. The document clarifies key terms governing fiduciary duties, conflict of interest, outsourcing arrangements, and fit-and-proper requirements for directors, officers, and service providers. It mandates that all provisions be interpreted alongside the principal Act and prevailing regulations, with statutory provisions taking precedence in cases of inconsistency.
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