Regulatory Alerts2019-04-25
DMSD Circular 3 – Professional Indemnity Insurance
The Securities and Exchange Commission requires all licensed market operators to obtain professional indemnity insurance covering liabilities arising from their own negligence or that of their employees. Licensees must confirm compliance with Section 182(2) of the Securities Act No 41 and submit copies of their active insurance policies to the Commission by 17 May 2019. Operators failing to maintain this coverage must rectify the deficiency immediately while designated relationship managers provide direct regulatory support.
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