Financial industry associations say a ban on commissions paid to financial advisers for selling financial products would harm consumers.
January 25, 2023Banks and insurers are required to manage statistical reporting work centrally, from a dedicated department, and to establish data review, governance, and quality control mechanisms.
January 16, 2023AIA and PICC said the incorrect data in their solvency reports was due to an incorrect understanding of the rules as well as calculation errors.
January 12, 2023The new price cap on petroleum products is due to take effect on 5 February 2023, alongside an EU ban on seaborne imports of refined products originating from Russia.
January 5, 2023Following talks with reinsurers, Japanese insurers can continue offering marine war insurance to LNG carriers in Russian waters until March.
January 5, 2023Banks and insurers must incorporate consumer protection mechanisms into their corporate governance, culture-building exercises, and business development strategies.
January 5, 2023Mystery shopping programme identified deficiencies in QDAP and TVC sales practices. Insurers and intermediaries with adverse findings will be required to take remedial actions.
December 29, 2022When coverage is provided, it is becoming more pricey and contains broad policy exclusions that would deny any FTX-related claims.
December 27, 2022The reforms include overhauls of the ring-fencing and senior managers regimes, a new green finance strategy, and an investment management exemption for cryptoassets.
December 13, 2022The FSB will instead use assessments available through the IAIS Holistic Framework to inform its considerations of systemic risk in the insurance sector.
December 12, 2022