Regulatory Alerts2020-01-01
Guidelines on the Criteria for Auditors and Actuaries to Function in the Insurance Industry
The Financial Services Commission of Jamaica issued guidelines establishing fit and proper criteria for auditors and actuaries appointed under the Insurance Act, 2001. The document mandates that these professionals must be qualified, independent, and in good standing with recognized associations, while requiring specific experience levels and adherence to conflict of interest rules. It further outlines sanctions for misconduct and proposes legislative amendments to grant the Commission direct authority to regulate and approve these appointments.
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