... Financial Reporting Council that it is a daunting task to set up a new organization. And setting up the independent authority for the insurance industry would not be any easier. It was after deep thoughts and prayers that I agreed to take up the invitation to work in this new - 3 - venture. 7. On being...

... and chief executives of insurance brokers will be deemed as responsible officers of the firms concerned during the transitional period. 6 New Regulatory Regime for Insurance Intermediaries 7 Set out licensing, F&P and conduct requirements Process licence applications and update Register of licensees...

... quotation, offer letter, promotional materials, insurance policy or the policy schedule, thereby reducing the amount of premium, fee or charge the policy holder is obliged to pay under the terms of the insurance policy. (f) “Permitted Gift” means a gift listed in the Annex to this Guideline. (g) “Rebate...

... quotation, offer letter, promotional materials, insurance policy or the policy schedule, thereby reducing the amount of premium, fee or charge the policy holder is obliged to pay under the terms of the insurance policy. (f) “Permitted Gift” means a gift listed in the Annex to this Guideline. (g) “Rebate...

... quotation, offer letter, promotional materials, insurance policy or the policy schedule, thereby reducing the amount of premium, fee or charge the policy holder is obliged to pay under the terms of the insurance policy. (f) “Permitted Gift” means a gift listed in the Annex to this Guideline. (g) “Rebate...

... first year of the direct regulatory regime for licensed insurance agents and issues relating to authorized insurers As you will be aware, the new direct regulatory regime for licensed insurance intermediaries, as set out in the Insurance Ordinance (Cap. 41) (the “Ordinance”), has been in effect for just...

... 5.7 It should be noted that any shares or securities listed on a foreign stock exchange not recognized by the IA (i.e. a foreign stock exchange other than those listed in Annex 3) shall be deemed as unlisted for the purposes of the Rules and must be valued in accordance with the principles set out in...

... consideration. The relevant Forms1 for seeking approval/no objection or notification of any changes of or in the particulars of such persons are set out in Schedules 2, 4, 5 and 6 to the Ordinance. The IA’s Powers of Approval, Revocation of Approval, or Objection in respect of Proposed Appointments or...

... PCR should be set at a confidence level calculated using 99.5% value-at-risk (“VaR”) over a one-year period. 3 8. There is general agreement with the total balance sheet approach for the measurement of risks, as well as the establishment of the two explicit solvency control levels. 9. In respect of...

... Here in Hong Kong, the Green and Sustainable Finance Cross-Agency Steering Group was set up in May 20201 to coordinate on these issues in the financial sector, while supporting international initiatives and alignment. The challenges we face are enormous. But with immense challenges also comes immense...