Regulatory Alerts2019-08-28
Added · Updated
Rules on Equity Release Financial Products
The document establishes registration requirements for Credit Institutions and Financial Institutions offering Equity Release Financial Products, mandating enrollment in the MFSA's ERS List. Applicants must submit comprehensive documentation regarding governance, sales processes, compliance, and staff qualifications, with Financial Institutions additionally required to provide business plans, financial projections, and professional indemnity insurance meeting minimum limits of €1,250,000 per claim. Staff engaging in these activities must register in the ERS Register by demonstrating fit and proper status, specific qualifications, and relevant experience in credit product distribution.
More like this from MFSA
MFSA published 5 documents in the last 30 days. We email you each new one the day it's published.