Regulatory Alerts2024-12-18
Insurance Intermediaries Rules and Guidance, 2021 - Consolidated
The Guernsey Financial Services Commission issued the consolidated Insurance Intermediaries Rules, 2021, which replace previous licensing, client monies, and conduct regulations under the 2002 Law. The document mandates strict licensing application procedures, detailed annual returns, and rigorous safeguards for the segregation and reconciliation of client monies. It further establishes minimum capital requirements and comprehensive conduct of business standards, including corporate governance, record-keeping, and conflict of interest management for licensed intermediaries.
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