1. IVASS monitoring KIDs of insurance-based investment products (IBIPs) On 10 July, IVASS launched a preliminary public consultation which could possibly be followed by a tendering procedure for the selection of a service provider which will be charged with the task of setting up and managing an online portal for the collection, updating and monitoring
Our Asia insurance regulatory tracker for the first quarter of 2018 is attached. It includes updates on the introduction of an insurance levy in Hong Kong, a consultation on agency recruitment incentives in Singapore, and new measures in relation to the use of insurance funds in China.
On 29 March 2018, the Treasury Commons Select Committee (the “Committee“) announced an inquiry into economic crime in the UK. The inquiry will have two strands: the anti-money laundering, counter-terrorist financing and sanctions regimes in relation to which the Committee is seeking evidence on, amongst other matters, the scale of sanctions violations in the UK,
The Hogan Lovells’ Corporate Insurance Newsletter for October has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. In this issue, amongst other items, we cover: The publication of the results of the Treasury Select Committee’s inquiry into the implementation of Solvency II The
Background On 11 May 2015, the Monetary Authority of Singapore (Amendment) Bill (the Bill) passed its second reading in Parliament. The Bill will empower the Monetary Authority of Singapore (the MAS) to combat money laundering and terrorism financing more efficiently through a combination of centralised due diligence requirements, enhanced ongoing supervision and inspection powers, and