Regulatory Alerts2022-11-25
Added · Updated
Standards FIMA 2021 (Collective Investment Schemes)
The Namibia Financial Institutions Supervisory Authority (NAMFISA) has issued comprehensive standards under the Financial Institutions and Markets Act 2021 to regulate collective investment schemes. These rules require managers, operators, trustees, and custodians to provide detailed pre-transaction disclosures, maintain a minimum N$5 million capital base for trustees and custodians, and implement robust governance and fiduciary frameworks. The standards further establish mandatory minimum investment periods of five years for participation bonds and seven years for unlisted securities, while clarifying voting rights and solicitation procedures for foreign schemes.
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