Regulatory Alerts2022-06-29
Added
Notice FHC-N625 on Compliance with Section 30 on a Consolidated Basis
The regulator issued Notice FHC-N625 to require predominantly banking designated financial holding companies to comply with the equity investment limit under section 30 of the Financial Holding Companies Act 2013 on a consolidated basis. This mandate obligates these entities to aggregate the value of equity investments held by the parent company with those held by any other company within its financial holding company group. The notice takes effect on 01 July 2022 and applies specifically to Financial Holding Companies operating in the banking sector.
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