Regulatory Alerts2021-01-01
Long term Insurers Supplemental Information Document
The Isle of Man Financial Services Authority issued this document to provide supplemental guidance to long-term insurers on meeting Anti-Money Laundering and Countering the Financing of Terrorism obligations under the 2019 Code. It details specific customer due diligence requirements, including identity verification methods for natural persons, legal arrangements, foundations, and legal persons. The guidance also outlines procedures for introduced business, suitable certifier regimes, and risk-based approaches to ongoing monitoring and record keeping.
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