Regulatory Alerts2024-09-12
Added
Response to Feedback on Consultation Paper and Consultation on Proposed Amendments to Financial Services and Markets (Resolution of Financial Institutions) Regulations 2024
The Monetary Authority of Singapore issued this circular to provide its response to feedback received on a previous consultation regarding the enhancement of resolution powers for the insurance sector. Concurrently, the regulator is consulting on proposed amendments to the Financial Services and Markets (Resolution of Financial Institutions) Regulations 2024 to extend the statutory bail-in regime to insurers and prescribe maximum durations for temporary stays on reinsurers' early termination rights. Licensed insurers are requested to submit their comments on these proposed amendments by 11 October 2024 via the designated online form.
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