Regulatory Alerts2021-11-10
Added · Updated
Matters to be Included by a Registered Exchange in its Listing Requirements
The Namibia Financial Institutions Supervisory Authority issued Standard FM.S.3.1 to mandate specific content that registered exchanges must incorporate into their listing requirements for securities. The standard prescribes detailed criteria covering application procedures, fee structures, corporate governance mandates such as committee composition and executive separation, insider ownership disclosures, and ongoing cooperation with foreign exchanges. These requirements ensure that listing rules do not impose undue barriers to market entry or exit, actively protect client interests by filtering out excessive risks, and enforce strict penalties for misleading issuer disclosures.
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