Regulatory Alerts2022-11-25
Added · Updated
Breakdown of Industry Comments on Preliminary Chapter 1
NAMFISA has published industry comments addressing proposed amendments to its preliminary standard governing the appointment and qualifications of valuators for financial institutions and intermediaries. The feedback resolves independence conflicts by removing restrictive employment wording, expands eligible professionals beyond actuaries to include stockbrokers, and clarifies experience benchmarks alongside a case-by-case assessment framework. These revisions establish a transparent, publicly accessible list of approved valuators that aligns regulatory discretion with the Financial Institutions Act while ensuring cost-effective, competent third-party valuations.
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