Regulatory Alerts2025-12-09
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Recommendation No 14/2025 on Product Oversight and Governance for Insurers and Insurance Distributors
The Magyar Nemzeti Bank issued Recommendation No 14/2025 to establish expectations for product oversight and governance systems within the Hungarian insurance sector. The document mandates that manufacturers and distributors define target markets, conduct rigorous product testing, and continuously monitor customer value indicators to prevent detriment. It further requires proportional governance measures based on product complexity and strict management of conflicts of interest throughout the product lifecycle.
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