Regulatory Alerts2024-04-29
Added
Amendments To MAS Notice FHC-N126 On Enterprise Risk Management
The Monetary Authority of Singapore issued Circular No. ID 09/24 to amend MAS Notice FHC-N126 on Enterprise Risk Management for Financial Holding Companies. These amendments align the notice with the revised MAS Notice 126 by applying updates at the DFHC and FHC group levels, specifically in areas such as liquidity risk management. The revised notice is available on the MAS website and takes effect immediately.
1 Circular No. ID 09/24 29 April 2024 To Chief Executives All Designated Financial Holding Companies (Licensed Insurer) (“DFHC (Licensed Insurer)s”) and Licensed Insurers except for Captive Insurers, Marine Mutual Insurers and SPRVs Dear Sir/Madam AMENDMENTS TO MAS NOTICE FHC-N126 ON ENTERPRISE RISK MANAGEMENT Following the issuance of the revised MAS Notice 126 on (Enterprise Risk Management for Insurers) on 30 September 2022, the Monetary Authority of Singapore (MAS) has made amendments to MAS Notice FHC-N126 on Enterprise Risk Management. These apply the MAS Notice 126 revisions at the DFHC (Licensed Insurer) and the FHC group level, in areas such as liquidity risk management. 2 The revised MAS Notice FHC-N126 is available on the MAS website and will take effect immediately. 3 If you have queries on this matter, please contact your company’s liaison officer in MAS. Thank you. Yours faithfully [sent via MASNET] DANIEL WANG EXECUTIVE DIRECTOR INSURANCE DEPARTMENT