... group of companies which also have subsidiaries in other jurisdictions carrying on insurance business in those jurisdictions. In these groups (referred to hereafter as “insurance groups”), the risk management and control functions as well as significant management and policy decisions are often carried...

... terrorist financing laws that are relevant. For example: (a) it is an offence under section 4 of the Weapons of Mass Destruction (Control of Provision of Services) Ordinance (Cap.526) (“WMD(CPS)O”) for a person to provide any services where he believes or suspects, on reasonable grounds, that those services...

... - b) Preparing risk appetite statement, which defines the risk capacity and gives clear guidance to operational management on the risk limits of material risks ? PART B) Readiness Status (Cont'd) Responses c) How is the preparation progress of risk assessment and control process and embedding of the...

... Financial Needs Analysis Form and Risk Profile Questionnaire (“RPQ”) as per the HKFI ILAS Requirements, that Members should put in place appropriate control and procedures to ensure that the information in the two sets of documents is consistent with each other. 5. The forms or instruments for...

... Requirement Whilst we rely upon Members to apply stringent internal control measures to manage the due compliance in this regard, we are obliged to introduce at this juncture an Annual Certification requirement that Chief Executives of Members are to certify compliance by using the appended form prescribed by...

... instruments. When Members’ forms are not accepted by individual insurers, this may result in the clients having to fill in similar information onto insurer’s FNA form (and also insurer’s Risk Profile Questionnaire (“RPQ”) for Linked Long Term Insurance). Members should adopt appropriate control and procedures...

... intermediary liable to judicial or other proceedings. A non- 3 compliance may, however, for example, reflect on the IA’s view of the continued fitness and properness of (i) the directors, controllers and key persons in relevant control functions of the authorized insurers to which this Guideline applies and...