Regulatory Alerts2024-10-11
Added · Updated
Industry Comments on Chapter 4 Collective Investment Scheme Standards
NAMFISA issues FM Standard CIS.S.4.6 to govern regulatory actions against foreign collective investment scheme managers and connected persons operating in Namibia, detailing suspension, disqualification, or restriction powers under the FIM Act. Industry commenters request urgent clarification on the standard's scope and alignment with fit-and-proper requirements, prompting NAMFISA to refine the wording while retaining its broad application to both foreign and locally connected entities. The regulator accepts targeted amendments but declines narrower interpretations, ensuring the standard covers a comprehensive spectrum of cross-border managerial sanctions and approval conditions.
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