Regulatory Alerts2019-01-01
FRA Chairman Decision No. 42 of 2019 Regulating the Work of Regulatory Committees
The Financial Regulatory Authority issued Decision No. 42 of 2019 to regulate the procedures and operations of regulatory committees established under laws governing insurance, capital markets, real estate financing, microfinance, financial leasing, and factoring. The decision establishes specific meeting schedules for each committee, defines the submission requirements for administrative appeals, and mandates the creation of an electronic registration system to streamline the review process. It also repeals the previous 2018 decision and outlines the committees' powers to request information, hear parties, and issue binding decisions with associated administrative fees.
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