Regulatory Alerts2021-01-01
Circular Letter No. 21 of 2021 Regarding Investment Guidelines for Private Insurance Funds
The Financial Regulatory Authority issued Circular Letter No. 21 of 2021 to clarify the Fund Board's statutory responsibility for formulating investment policies and monitoring market channels under Law No. 54 of 1975, eliminating the need for prior Authority approval in standard operations. The circular mandates that "Other Investments," defined as non-listed channels capped at 5% of fund assets, require explicit no-objection clearance from the Authority. This directive operationalizes Board Decision No. 99 of 2015 by specifying the exact procedural requirement for these capped investments while affirming existing general investment limits.
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