Regulatory Alerts2022-05-11 | 29722Compliance with Sections 119(2) and (3) of the IA, 2018
The regulator requires banking and insurance sector entities to comply with Sections 119(2) and (3) of the IA, 2018. These provisions establish mandatory reporting and governance standards that ensure operational transparency and financial stability across regulated institutions. Non-compliant organizations face potential sanctions, license restrictions, or mandatory corrective actions until full adherence is demonstrated.
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