Implementation of The Financial Resources Requirements Rules For Asset Managers, 2023

TO: All Asset Managers

FROM: The Non-Bank Financial Institutions Regulatory Authority (NBFIRA)

Juliana White

Director- Capital Markets

DATE: 27 March 2023

SUBJECT: IMPLEMENTATION OF THE FINANCIAL RESOURCES REQUIREMENTS RULES FOR ASSET MANAGERS, 2023

1. Reference is made to the attached Financial Resources Requirements Rules for Asset Managers 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 Asset Managers 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 are issued in line with Section 58 (1) of the Securities Act of 2014, as read with Section 5 (2) (e) of the Securities (Institutions Licensing) Regulations, 2017.

4. Any further enquiries in this regard can be directed to Mr Mbiganyi Modise or Ms Thenjiwe Stephen at 3686100 or through email at tstephen@nbfira.org.bw and mmodise@nbfira.org.bw .

5. The Rules can also be accessed through the NBFIRA Website www.nbfira.org.bw.

Download Financial Resources Requirements Rules for Asset Managers, 2023