Regulatory AlertsRegulation on Outsourcing of Functions and Activities by Insurance or Reinsurance Undertakings (Decision No 242/2024)
The National Bank of Moldova issued Decision No 242/2024 to approve a regulation establishing comprehensive outsourcing rules for insurance and reinsurance undertakings. The framework mandates robust governance, risk management, and supervisory controls to ensure that outsourced critical functions maintain regulatory compliance and operational resilience. Undertakings must implement detailed outsourcing policies, designate clear accountability to the central bank, and submit periodic reporting on all third-party service arrangements.
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