... of services to be provided, target market clientele and source of business; 15. Internal control policies and procedures (e.g. operational manual, compliance manual, manual on Anti-Money Laundering); and 16. Copy of the latest financial statements (if the applicant has been incorporated for 12 months...

... Insurance Ordinance (Cap. 41) (“IO”). Investment Risks Investment risks embrace market, credit, liquidity, and default risks. Authorized insurers should take account of the factors outlined in section 7.6 of GL21 to control and mitigate investment risks associated with VA-related activities, which typically...

... insurance holding company (“DIHC”). Once designated, the IA will have direct regulatory powers over the DIHC under Part XIA of the IO, and hence the IA can carry out effective group-wide supervision over the DIHC (including its shareholder controllers, chief executive, directors and key persons in control...

...’ Investments and Assets……….…………………. 8 12. Post-sale Control……………………..…………………. 9 13. Commencement …………………………………………. 10 Selling Process of Investment-linked Assurance Schemes (“ILAS”) Products Annex 1 1. Introduction 1.1 This Guideline is issued pursuant to section 133 of the Insurance Ordinance (Cap. 41) (“the...

... insurance holding company (“DIHC”). Once designated, the IA will have direct regulatory powers over the DIHC under Part XIA of the IO, and hence the IA can carry out effective group-wide supervision over the DIHC (including its shareholder controllers, chief executive, directors and key persons in control...

... website of the Office of Foreign Assets Control of the US Treasury (www.ustreas.gov/offices/enforcement/ofac/sanctions/terrorism.html). under the respective headings of "Names of Those Designated on 13 October 2004" and "Name of Entity Designated on 15 October 2004". You...

... following: (i) any specific requirements that should be implemented to ensure an OA ILAS product is only to be recommended to a customer who is a PI for investment and tax/estate planning purpose; and (ii) the proper risk and underwriting control measures that should be put in place by authorized insurers...

... following: (i) any specific requirements that should be implemented to ensure an OA ILAS product is only to be recommended to a customer who is a PI for investment and tax/estate planning purpose; and (ii) the proper risk and underwriting control measures that should be put in place by authorized insurers...

... public. On regulatory philosophy, I would venture to suggest that regulation is a balance between “voluntary compliance” and “command and control”. 14. In assessing the success of a regulatory regime, it is not so much about leniency or harshness in its approach. Rather, it is about doing the right things...

... Control Functions: • Risk Management • Financial Control • Compliance • Internal Audit • Actuarial • Intermediary Management Appointment of Key Person in Intermediary Management Function • Intermediary management function is to establish and maintain internal control measures for: – Administering...