Regulatory Alerts2023-05-23
Regulation on Requirements for Management, Audit Committee, Key Functions, Branch Heads and Liquidators in Insurance and Reinsurance
The National Commission for Financial Markets of Moldova issued Decision No 26/2 to approve a regulation establishing qualification and compliance requirements for key personnel within insurance and reinsurance entities. The framework mandates specific eligibility criteria for individuals holding management positions, serving on audit committees, performing key functions, directing third-state branches, and acting as liquidators during winding-up proceedings. These standardized requirements aim to strengthen corporate governance, ensure operational stability, and align domestic regulatory oversight with international insurance sector standards.
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