Regulatory Alerts2018-12-06
Added · Updated
FSRA Compliance Extension Notice 1/2018 (LTIA)
The Financial Sector Conduct Authority extends the compliance deadline for Rule 19 of the Policyholder Protection Rules (Long-term Insurance), 2017 and Regulation 3.9A of the Long-term Insurance Act regulations to 1 July 2019. This statutory extension, issued under section 279(1) of the Financial Sector Regulation Act, 2017, relieves long-term insurers from the original compliance dates. Market participants must align their internal processes and reporting mechanisms to satisfy the updated regulatory requirements by the revised deadline.
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