... CONTENTS 2 5 8 10 18 20 51 54 57 60 61 64 69 73 91 CHAIRMAN’S MESSAGE CEO’S MESSAGE ABOUT THE INSURANCE AUTHORITY CORPORATE GOVERNANCE HIGHLIGHTS OF THE YEAR OPERATIONAL REVIEW Market Overview Supervision of Insurers Market Development Supervision of Intermediaries Anti-Money Laundering and...

... CONTENTS 2 5 8 10 18 20 51 54 57 60 61 64 69 73 91 CHAIRMAN’S MESSAGE CEO’S MESSAGE ABOUT THE INSURANCE AUTHORITY CORPORATE GOVERNANCE HIGHLIGHTS OF THE YEAR OPERATIONAL REVIEW Market Overview Supervision of Insurers Market Development Supervision of Intermediaries Anti-Money Laundering and...

... CONTENTS 2 5 8 10 18 20 51 54 57 60 61 64 69 73 91 CHAIRMAN’S MESSAGE CEO’S MESSAGE ABOUT THE INSURANCE AUTHORITY CORPORATE GOVERNANCE HIGHLIGHTS OF THE YEAR OPERATIONAL REVIEW Market Overview Supervision of Insurers Market Development Supervision of Intermediaries Anti-Money Laundering and...

... the e-portal, verify this information, update it as necessary, and then upload the updated information to the e- portal. 2 3) The IA will then send e-mails to each of the individual insurance agents, inviting them to activate their individual accounts in the e-portal in order to submit their licence...

... the Institute in January 2018.1 As such, the Institute noted in its letter that it would undertake ongoing monitoring and assessment of international and Hong Kong developments and challenges, in order to be able to objectively consider how to respond. The FRSC has upheld its commitment to monitoring...

... “Know Your Client” procedures. 2. The assessment of the clients’ needs should refer to their financial circumstances, total protection needs and requirements as disclosed and duly recorded in the forms or instruments of the Members in conducting the “Know Your Client” procedures. 3. If the clients are...

... 2021 to make good the shortfall in order to avoid a penalty. Similarly individual licensees with a shortfall of more than 50% CPD hours as at 31 July 2021, have until 31 October 2021 to make good the shortfall in order to limit the penalty to a fine (and avoid suspension and later revocation). Note...

... Explanatory Note on “Regulated Activity” under the Insurance Ordinance (Cap. 41) Insurance Authority October 2021 2 A. Introduction A.1 The regulatory regime for insurance intermediaries under the Insurance Ordinance (Cap. 41) (the “Ordinance”) makes it a criminal offence for a person, without...