Regulatory Alerts2022-06-29
Added · Updated
Notice FHC-N106 Appointment of Director, Chairperson, Member of Nominating Committee, and Key Executive Person
Designated financial holding companies with a licensed insurer subsidiary in Singapore must submit an application form to the Authority at least one month before appointing any director, chairperson, member of the nominating committee, or key executive person. These entities must also assess proposed arrangements for conflicts of interest or impairment of duties and notify the Authority of any changes to key executive persons' roles or reporting structures at least one month in advance. The notice requires these companies to maintain a board-approved fit and proper policy that is reviewed annually and covers recruitment and internal controls.
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