Regulatory Alerts2017-12-15
Added
Review of Insurance Returns - Implementation Timeline
The Monetary Authority of Singapore defers the implementation of revised insurance returns from 1 January 2018 to 1 January 2019 due to legislative delays and industry compliance challenges. General insurers are required to conduct a parallel run for Form 6 on a quarterly and annual basis for 2019, although this specific form does not require auditing during the parallel run. MAS targets issuing the necessary legislation by 30 September 2018 and urges insurers to update their systems to meet the new submission requirements.
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