Regulatory Alerts2020-01-01
Circular No. 8 of 2020: Additional One-Month Extension for Insurance and Reinsurance Broker Registration Renewal
The Financial Regulatory Authority (FRA) issued Circular No. 8 of 2020 to grant insurance and reinsurance brokers an additional one-month extension to complete their registration renewal procedures following the expiration of their current registration. This extension aligns with Prime Ministerial Decision No. 606 of 2020, which temporarily suspended large public gatherings and training events to contain the coronavirus pandemic, prompting the FRA to further postpone mandatory training courses for brokers until April 22, 2020. The directive ensures that regulatory compliance deadlines are adjusted to accommodate public health measures without penalizing brokers for delays caused by the suspension of in-person activities.
Share