Regulatory Alerts2020-12-03 | 24124Added · Updated
Central Bank (Payment of Supervisory Fees and Charges) (Amendment) Regulations, 2020
The Minister of Finance for Trinidad and Tobago amended the Central Bank (Payment of Supervisory Fees and Charges) Regulations, 2011, to update definitions for assets, financial holding companies, and regulated persons, and to introduce a definition for holding companies. The amendment exempts licensees, insurance companies, and pension plans from supervisory fees during winding-up or revocation processes, while excluding associations of underwriters from specific fee regulations and applying rules to non-compliant foreign insurers. Schedule I was revised to adjust service charge calculations for insurance intermediaries, and Schedule II was introduced to apply flat fees to pension plan asset ranges. These Regulations commenced on 1st January, 2021.
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