Regulatory Alerts2026-07-13
Added
Namibia Financial Institutions Supervisory Authority: Standards under the Financial Institutions and Markets Act, 2021: Collective Investment Schemes
The Namibia Financial Institutions Supervisory Authority publishes three new standards for collective investment schemes that come into effect on the date of publication. Standard CIS.S.4.1 requires managers, authorized representatives, and designated representatives to provide specific general and investment-related information to investors before entering into initial transactions. Standard CIS.S.4.2 establishes conditions for the transfer and merger of participatory interests, requiring prior written consent from investors holding 51% in value of participatory interests and prior written approval from the Authority, with specific exemptions for certain mergers and transfers. Standard CIS.S.4.3 mandates governance arrangements, risk management policies, and fiduciary duties for the administration of collective investment schemes and the solicitation of investments in foreign collective investment schemes.