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⏭... consult the public on the draft Rules (see ANNEX 1). The draft Rules have been prepared by the IA on the basis of the following: a. the Ordinance and the Amendment Ordinance; b. the HKFI Code1; and c. similar restrictions set by overseas regulatory authorities. 12. In preparing the draft Rules the IA has...
https://www.ia.org.hk/english/infocenter/files/Consultation_Paper_on_Draft_Rules_on_Max_Number_of_Insurers_ENG.pdf -
Date: 2018-10-31
... on at least an annual basis to ensure such documents, data and information are up to date, and in failing to maintain effective procedures to discharge this duty. Monitoring transactions 14. Section 5(1)(c) of Schedule 2 to AMLO set out a financial institution’s duty to monitor continuously business...
https://www.ia.org.hk/english/infocenter/press_releases/files/Statement_of_Disciplinary_Action_20220131.pdf -
Date: 2022-01-31
... approached for replacing your life insurance policies. 3 Dos 1. Ask yourself the following questions before making a decision for replacing your existing life insurance policy: Why are you asked to replace your existing policy? Is it solely for your own benefits? Will the protection be continuous without...
https://www.ia.org.hk/english/consumer/files/life_insurance_policy_eng.pdf -
Date: 2020-04-21
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Introduction
... Activity Under section 3A(a) of the IO, a person carries on a regulated activity if the person does any of the following acts (Part 1 of Schedule 1A to the IO): the act of negotiating or arranging a contract of insurance the act of inviting or inducing, or attempting...
https://www.ia.org.hk/english/supervision/reg_ins_intermediaries/introduction_of_insurance_intermediaries.html -
Date: 2023-06-26
... Closure of Insurance Authority offices to the general public 1 December 2020 In view of the latest development of COVID-19, the Insurance Authority (IA) announced that its offices in Wong Chuk Hang and North Point will be closed to the general...
https://www.ia.org.hk/english/infocenter/press_releases/20201201.html -
Date: 2020-12-01
... insurance intermediaries. Insurance Authority The Insurance Authority (“IA”) is a statutory body set up to administer the Insurance Ordinance. In accordance with section 4A(1) of the Insurance Ordinance, the principal functions of the IA are to regulate and supervise the...
https://www.ia.org.hk/english/legislative_framework/overview/an_overview_of_the_regulatory_framework.html -
Date: 2021-09-13
... The major changes since the last version (effective 1 January 2016) relate to the criteria for FNA exemption via digital channel. The proposed amendments aim at clarifying that the exemption also applies to cases where insurers distribute those products through the webpage / mobile app of their bank...
https://www.ia.org.hk/english/supervision/reg_ins_intermediaries/files/6_HKFI_Initiative_on_FNA_v6_1_6_2018_20190823.pdf -
Date: 2019-12-20
... respect of the new supervisory framework for multinational insurance groups (GWS framework), tentatively to be implemented in the first quarter of 2021. The main objective of the proposed Group Capital Rules is to set out the requirements in relation to capital, regulatory reporting and public...
https://www.ia.org.hk/english/infocenter/press_releases/20201228.html -
Date: 2020-12-28
... Intermediaries (“GL24”), which set the CPD requirements for individual licensees. We intend to keep these Interpretation Notes under review and update or supplement them when necessary. The Interpretation Notes cover the following matters and apply to CPD Assessment Periods commencing on or after 1 August 2021...
https://www.ia.org.hk/english/legislative_framework/circulars/reg_matters/files/Circular_Interpretation_Notes.pdf -
Date: 2021-12-10