Regulatory Alerts2024-10-11
Added · Updated
NAMFISA Standard 3.6 on Capital, Solvency, Liquidity and Conduct Requirements for Investment Managers
Issued by the Namibia Financial Institutions Supervision Authority (NAMFISA), this standard mandates that investment managers maintain a minimum paid-up share capital of N$250,000 and professional indemnity or fidelity insurance coverage of at least N$1 million. It establishes strict capital adequacy and liquidity benchmarks, requiring managers to hold marketable securities exceeding liabilities and liquid assets equivalent to 13/52 weeks of annual expenditure. The regulation further enforces comprehensive conduct obligations, including conflict of interest management, mandatory segregation and daily reconciliation of client assets, suitability assessments, and transparent risk disclosure to ensure services are delivered in the clients' best interests.