Regulatory Alerts2020-01-01
Guidance Note: Transfer Plan on Discontinuance of Business
The Financial Services Commission of Jamaica issued this guidance to ensure the orderly migration of pension business when an Administrator or Investment Manager discontinues operations. The document mandates that exiting entities submit a comprehensive transfer plan containing specific details such as affected plan lists, acquiring provider information, timelines, and customer notification strategies. These requirements aim to minimize service interruptions, maintain regulatory oversight, and ensure trustees are adequately informed to secure alternative service arrangements.
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