Regulatory Alerts2026-07-13
Added
NAMFISA Standards under the Financial Institutions and Markets Act, 2021: Financial Markets
The Namibia Financial Institutions Supervisory Authority publishes four standards under the Financial Institutions and Markets Act, 2021, effective upon publication in the Government Gazette. Standard FM.S.3.1 mandates that registered exchanges include specific listing requirements, such as fitness and propriety checks, governance structures, and insider ownership disclosures. Standard FM.S.3.2 requires self-regulatory organizations to submit annual reports to the registrar within 90 days of their financial year-end, detailing board composition, market activities, and compliance status. Standard FM.S.3.3 obligates persons concluding transactions in listed securities outside a registered exchange that result in a change of beneficial ownership to report the transaction to NAMFISA and the exchange within two days. Standard FM.S.3.4 requires regulated persons selling securities to provide clients with detailed issuer and security information, disclose conflicts of interest, and assess investment suitability.