Regulatory Alerts2022-05-17
Reserve Bank of New Zealand Guidelines on Fit and Proper Certificates for Licensed Insurers
The Reserve Bank of New Zealand issues these guidelines to define the fit and proper certificate requirements for licensed insurers under the Insurance (Prudential Supervision) Act 2010. The document mandates specific certification processes for both licence applicants under Section 18 and existing insurers appointing new directors or relevant officers under Section 37. It further requires insurers to conduct due inquiry and verification to ensure individuals meet fitness and propriety standards before providing the necessary signed declarations.
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