Regulatory Alerts2026-05-18
Added
PI-PF-CIR-02-2026-FIMA Implementation Circular
Retirement funds, beneficiary funds, and friendly societies must apply for re-registration under the Financial Institutions and Markets Act, 2021 within 12 months of its 1 May 2026 effective date, adhering to a phased schedule allocated by the Namibia Financial Institutions Supervisory Authority. Entities failing to register within the prescribed period face regulatory action, with unregistered beneficiary funds required to cease operations and violators liable for fines up to N$5,000,000 or imprisonment up to 10 years. The circular mandates the use of prescribed rules templates for registration applications, requires fund and society administrators to be registered, and establishes that rule amendments must be submitted to the authority at least 30 days before implementation.