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.
The Financial Regulatory Authority
FINANCIAL REGULATORY AUTHORITY
Deputy Chairman of the Authority
Circular No. (8) for the Year 2020
Issued on 15/4/2020
Regarding Granting an Additional One-Month Deadline from the Expiration Date of Registration to Complete Renewal Procedures in the
Register of Insurance or Reinsurance Brokers
In the context of continuing efforts to complete the state's measures to contain the spread of the (Coronavirus) virus, in alignment with Prime Ministerial Decision No. (606) for the Year 2020, which stipulated in its first article that "In order to adopt some precautionary measures by the state to confront the (Coronavirus) virus, and to safeguard the health of citizens, all events requiring the presence of any large gatherings of citizens or ................. are temporarily suspended."
Therefore, the management of the Financial Regulatory Authority has decided to extend the suspension of training courses organized through the Authority's Financial Services Institute for insurance or reinsurance brokers for an additional one month, effective from April 22, 2020.
Along with this, it has been decided to grant insurance and reinsurance brokers an additional one-month deadline from the expiration date of their registration in the Authority's registers to complete the registration renewal procedures.
May God protect the country and its people...
Deputy Chairman of the Authority
Dr. / Reda Abdel-Mooti
46.76
Smart Village: Building 136, Giza, Egypt
Postal Code: 110
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Fax: +202 35370066
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