Regulatory Alerts2016-01-01
Chairman of the Authority Decision No. (805) of 2016 Regarding Website Controls for Insurance and Reinsurance Companies and Brokers
The General Authority for Financial Supervision (GAFS) issued Decision No. (40) of 2016 to mandate regulatory controls for websites and social media pages operated by licensed Egyptian insurance and reinsurance companies and brokers. The decision requires prior GAFS approval before launching any informational or marketing website, strictly limits content to approved guidelines, and mandates immediate breach reporting and timely updates. Non-compliant entities face approval withdrawal and must fully align their digital platforms with these rules by December 31, 2016.
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