Regulatory Alerts2019-01-01
Circular No. 2 of 2019
The Financial Regulatory Authority (FRA) issued Circular No. 2 of 2019 to mandate that all insurance brokers and producers obtain prior approval from their affiliated or contracting insurance companies before publishing any advertisements or promotional content on social media. The directive specifically addresses the unauthorized use of insurance company logos and product promotions on personal social media pages, warning violators of potential legal and regulatory sanctions under applicable company bylaws. Companies are further required to formally notify the FRA of any broker or producer violations to ensure prompt enforcement actions.
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