Section 34 of the Monetary Authority Law enables the Authority to issue or amend Rules, Statements of Guidance and Statements of Principle. In addition, Section 48 provides for the issuance of a Regulatory Handbook to contain the policies and procedures of the Authority in carrying out its regulatory and co-operative functions.
A clear and precise directive issued to licensees on a subject matter that the Authority considers essential for the prudential supervision of regulated entities and which creates binding obligations on all licensees and for which a breach may lead to the imposition of a fine or regulatory action being taken against the licensee by the Authority pursuant to the exercise of its powers under the regulatory laws.
Guidance intended to assist licensees to comply with relevant laws, regulations, rules and statements of principles or to describe standards for conduct of business. Guidance contains recommendations on how licensees should operate and represent a measure against which the Authority will assess compliance by licensees.
A set of principles, a criteria, or approach to guide decisions and actions taken by the Authority in performing its regulatory and co-operative functions.
A set of actions, activities or tasks that the Authority will carry out in performing its regulatory and co-operative functions.
|LEGISLATION click for link|
|Regulatory Policy Class C Insurance Companies||View|
|Licensing - Insurance Companies||View|
|Licensing - Insurance Managers||View|
|Licensing - Insurance Broker or Agent/Agency||View|
|Fitness and Propriety||View||View||
|Approval of an Auditor||View|
|Recognition and Approval of an Actuary||View|
|Approval and Notification of changes||View|
|Issuing Notices of Decisions to Declined Applicants||View|
|Approved Stock Exchanges|
|List of Approved Stock Exchanges||View|
|Regulatory Policy - Criteria for Approving Changes in Ownership and Control||View|
|Use of Restricted Words||View|
|Outsourcing – Regulated Entities||View|
|Nature, accessibility and retention of records||View|
|Use of The Internet||View|
|Marketing Policies of Licensees||View|
|Responsibilities of Insurance Managers||View|
|Market Conduct - Insurers, Agents and Brokers||View||View|
|Internal Controls - Insurance||View||View|
|Business Continuity Management||View|
|Professional Indemnity Insurance||View|
|Waiver of Audit - Class C Licensees||View|
|Statement of Guidance - for Licensees seeking approval to use an Internal Capital Model to calculate the Prescribed Capital Requirement||View||View|
|Risk Management For Insurance Companies||View|
|Asset Management & Investment Strategy For Insurance Companies||View|
Capital Adequacy - Class B Insurers
Trust Funds – section 7(1) Insurance Law - Approved External Insurers
Prudential Reports and Statistical Returns
|Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT)||View||View|