Regulatory Alerts2021-04-22
Added · Updated
Namibia Financial Institutions and Markets Bill 2021
The Republic of Namibia’s National Assembly has introduced the Financial Institutions and Markets Bill to consolidate and harmonize legislation governing financial institutions, intermediaries, and markets. The legislation establishes comprehensive registration and operational standards for insurers, brokers, portfolio managers, retirement funds, and medical aid funds while granting the Namibia Financial Institutions Supervisory Authority (NAMFISA) broad regulatory, supervisory, and enforcement powers. It mandates strict market conduct rules, insider trading prohibitions, and a financial services compensation scheme to ensure systemic stability and protect policyholders and investors.
Topics
licensing
market-abuse
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