Regulatory Alerts2019-10-22
Added · Updated
Explanatory Note on Licensing Requirements for Banking Sector under Regulatory Regime for Insurance Intermediaries
The Insurance Authority issued this explanatory note to clarify licensing requirements for banks and their staff under the Insurance Ordinance's regulatory regime for insurance intermediaries. It defines regulated activities such as inviting, inducing, or providing regulated advice on insurance matters, distinguishing them from mere information provision or generic education. The document provides detailed guidance and FAQs to help banks determine when specific interactions, referrals, or premium financing arrangements require staff to hold appropriate licenses.