Regulatory Alerts2018-08-10
FSCA Extension of Compliance Period for LTI Act PPR 19 and Regulation 3.9A
The Financial Sector Conduct Authority extends the compliance deadline for long-term insurers to 1 January 2019 for Rule 19 of the Policyholder Protection Rules and Regulation 3.9A of the Long-Term Insurance Act regulations. This extension addresses practical implementation challenges, including required system upgrades and pending finalization of the Replacement Advice Record template. The Authority will also consider publishing interpretational guidance and intends to release the final Replacement Advice Record template alongside a thematic response document by the end of August 2018.
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