Regulatory Alerts2018-11-07
Added
Submission of Annual Returns
The Monetary Authority of Singapore issued Circular No. ID 12/18 to clarify that insurers must obtain prior approval from their Chief Executive and Board before submitting electronic annual returns. This directive addresses instances where insurers failed to secure necessary internal governance approvals prior to lodging returns by the 31 March deadline. The Authority reminds all direct and reinsurance companies to implement appropriate processes to ensure compliance with these governance requirements ahead of the submission date.
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