Implementation of The Non-Bank Financial Institutions Regulatory Authority (Capital Markets Sector Corporate Governance) Rules 2023
TO: All Capital Markets Participants
FROM: The Non-Bank Financial Institutions Regulatory Authority (NBFIRA)
Juliana White
Director- Capital Markets
DATE: 27 March 2023
SUBJECT: IMPLEMENTATION OF THE NON-BANK FINANCIAL INSTITUTIONS REGULATORY AUTHORITY (CAPITAL MARKETS SECTOR CORPORATE GOVERNANCE) RULES 2023
1. Reference is made to the attached Non-Bank Financial Institutions Regulatory Authority (Capital Markets Sector Corporate Governance) Rules of 2023.
2. The Board of Directors of the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) has approved the above-mentioned Rules and hereby informs all Capital Markets Participants that the Rules should be implemented from 1st April 2023. The industry is given a period of six (6) months to have implemented the Rules.
3. Note that the Rules were initially issued as NBFIRA (Securities Business Corporate Governance) Rules of 2012 and were amended to align them with international standards to be applicable to the whole Capital Markets sector.
4. Any further enquiries in this regard can be directed to Mr Mbiganyi Modise or Ms Thenjiwe Stephen at 3686100 or through email at mmodise@nbfira.org.bw and tstephen@nbfira.org.bw
5. The Rules can also be accessed through the NBFIRA Website www.nbfira.org.bw
