MU 20/15 - LIA MINIMUM STANDARD FOR LIFE INSURANCE ADVISORY PROCESS (EFFECTIVE DATE: NO LATER THAN 1 APRIL 2015)
|
|
- Sherilyn Shelton
- 7 years ago
- Views:
Transcription
1 BY ONLY To: Ordinary and Associate Members Members Undertaking No. 20 of May 2015 MU 20/15 - LIA MINIMUM STANDARD FOR LIFE INSURANCE ADVISORY PROCESS (EFFECTIVE DATE: NO LATER THAN 1 APRIL 2015) ACTION: 1. THIS MEMBERS UNDERTAKING REPLACES MU 20/14 (AMENDED) OF 19 MARCH FOR ORDINARY MEMBERS COMPLIANCE (IN RESPECT OF THEIR RESPONSIBILITIES AS EXEMPT FA UNDER THE FINANCIAL ADVISERS ACT, WHERE APPLICABLE) NO LATER THAN 1 APRIL FOR ASSOCIATE MEMBERS INFORMATION. Three files belonging to this Members Undertaking are: 1. MU 2015.docx 2. MU 2015 Appendix A.docx 3. MU 2015 Appendix B.docx Amendments are indicated in red font Paragraph 3 For avoidance of doubt, amended to state that MU 20/15 also applies to Accident and Health insurance but not to Personal Accident insurance Appendix A Amended to align the definition/criteria related to Selected Client and Trusted Individual with MAS s definition/criteria provided for other purposes such as DPI Products and BSC framework LIA SECRETARIAT
2 Members Undertaking No. 20 of May 2015 LIA MINIMUM STANDARD FOR LIFE INSURANCE ADVISORY PROCESS 1. OBJECTIVE 1. FAA-N16 (Notice on Recommendations on Investment Products) requires financial advisers and their representatives who are involved in making recommendations to their clients to comply with the following aspects: a) know your client; b) needs analysis; and c) documentation and record keeping 2. The objective of this guideline is to set out the minimum standard for the life insurance advisory process, covering all three aspects above, to be carried out by financial advisers and their representatives in advising their clients on life insurance products. 2. SCOPE 3. This guideline is applicable to life insurance and accident and health insurance (but not to personal accident insurance) products sold to individuals by financial adviser (FA) representatives of exempt financial advisers and licensed advisers. 4. For top-ups and subsequent policy alterations where advice will be provided, FA representatives may rely on information previously provided by the client if the client confirms that there are no material changes to the information. 5. This guideline is not applicable to: 5.1 Life products sold via direct marketing or other avenues where no advice is given. 5.2 Simple life insurance sold as an ancillary product to loans with a simple payment basis for the insurance cover, which includes policies that cover outstanding loans through personal loans, car loans, and credit card balances but does not include mortgage reducing term assurance plans. 5.3 Business insurance, such as keyman insurance or partnership insurance. 5.4 Group insurance, which includes: a) Group term life and group pure protection insurance products, where an employer or association is the policy owner; or b) Yearly renewable products such as credit life and pure protection insurance products that are sold on a group basis. LIA MU 20/15 of 20 May 2015 Page 2 of 6
3 6. Notwithstanding the above, financial advisers and their representatives have to ensure that due consideration is given to client s goals, financial situation and particular needs before making any recommendation. 3. MINIMUM STANDARD FOR LIFE INSURANCE ADVISORY PROCESS 7. The minimum standard for life insurance advisory process as set out in Appendix A (Life Insurance Advisory Form) covers the following sections. Sections 8. General information about the financial adviser and the status of the representative a) Information on financial adviser b) Status of the representative c) Importance of obtaining sufficient information highlighted 9. Know your client, which includes obtaining client s a) Personal information b) Priorities and objectives c) Investment profile d) Cash flow and budget e) Assets and liabilities f) Existing insurance portfolio 10. Needs analysis, which covers client s a) Protection needs b) Savings and investment needs c) Accident and health insurance needs 11. Representative s recommendation, which sets out a) Client s objectives b) Recommended plans c) Reasons for recommendations d) Risks and limitations of recommended plans e) Reasons for deviation, where applicable 12. Replacement of policy 13. Declaration by FA representative 14. Acknowledgement by client 15. Supervisor s review LIA MU 20/15 of 20 May 2015 Page 3 of 6
4 Guidance notes 16. In advising their clients on life insurance products, FA representatives are required to disclose their status and the financial adviser they represent, and highlight to their clients the importance of providing sufficient information to ensure that proper needs analysis and recommendation is made. 17. With the exception of Section 4 Investment Profile, which is product type specific, FA representatives are required to take their clients through every section in the life insurance advisory form as set out in Appendix A. Where a client does not want to provide the information required, the representative must clearly document the client s decision. 18. Section 4a Investment Risk Profile must be completed if advice is given for products with cash value. Section 4b Customer Knowledge Assessment must be completed if advice is given for Unlisted Specified Investment Products. 19. FA representatives are required to perform needs analysis on client s priorities and objectives based on the information provided. 20. In making the recommendations, FA representatives are required to explain the reasons for recommendations, highlight risks and limitations of the recommended products and clearly state reasons for any deviation from client s investment profile or objectives and priorities, where applicable. 21. FA representatives must also highlight and document the risk and reasons for replacement of policy in the life insurance advisory form, where applicable. 22. Every Life Insurance Advisory Form must be signed off by FA representative and the client, and reviewed and endorsed by the supervisor of the representative, or another supervisor when the immediate supervisor is not available. Where the supervisor disagrees with the needs analysis or recommendation, the FA representative is required to inform the client of the outcome and make the necessary rectification. Modifications allowed 23. Financial advisers may modify the wordings found in the Life Insurance Advisory Form (Appendix A) and the sequence in which the sections and questions are presented, as long as there is no material deviation from the underlying intent. 24. As this guideline sets out the minimum standard, financial advisers may augment the Life Insurance Advisory Form with additional information request or set a more stringent standard as the case may be. LIA MU 20/15 of 20 May 2015 Page 4 of 6
5 4. RESPONSIBILITIES OF REPRESENTATIVE, SUPERVISOR OF THE REPRESENTATIVE AND FINANCIAL ADVISER Responsibilities of FA representative 25. The representative is required to conduct a proper needs analysis based on the information obtained in the Life Insurance Advisory Form before making a suitable recommendation. When making a recommendation, the representative is required to explain and document clearly the basis of the recommendation, taking into consideration the nature and objective of the product, key risks and other features including duration and fees. 26. The representative is required to treat the information received from the client with confidentiality. The representative should not disclose any information acquired from the client without prior consent unless it is in relation to an insurance application and where there is a public duty or legal or professional obligation to disclose such information. 27. In the event where rectification needs to be made to the Life Insurance Advisory Form submitted by the representative, the representative is required to take prompt action to inform the client of the outcome and perform the necessary rectification. Responsibilities of supervisor of the representative 28. The supervisor is required to review and endorse the Life Insurance Advisory Form to ensure it is duly completed and the recommendation made by the representative is suitable in meeting the client s objectives. Where a recommendation is found to be inappropriate, the supervisor should take prompt action to notify the representative to make the necessary rectification. 29. The supervisor may rely on a checklist when reviewing the Life Insurance Advisory Form submitted by the representative to minimise the risk of inadequate documentation or inappropriate recommendations. For a suggested checklist, refer to Appendix B (Supervisory Checklist for Life Insurance Advisory Process). Responsibilities of Financial Adviser (FA) 30. The FA needs to ensure that the supervisor and representative are properly trained and competent to carry out their responsibilities, as required under the life insurance advisory process. 31. The FA is required to ensure that a copy of the Life Insurance Advisory Form is provided to a client in relation to the purchase of a life insurance policy. 32. The FA is required to ensure proper record keeping of the Life Insurance Advisory Form submitted by the representative for the purposes of review and audit. 33. The FA is required to submit a copy of sections 11, 12 and 13 of the Life Insurance Advisory Form as duly completed to the insurer for record purposes. The full copy of the Form is to be retained by the FA for the purposes of review and audit. LIA MU 20/15 of 20 May 2015 Page 5 of 6
6 34. The FA is required to conduct regular reviews of the Life Insurance Advisory Forms received, customer surveys, call-backs and mystery shopping to ensure that their supervisors and representatives comply with the requirements of the life insurance advisory process. 35. Where the FA uncovers any issues arising from the life insurance advisory process conducted by the supervisor and/or representative, the FA is required to conduct training to ensure that they are acquire the necessary competency, and take appropriate disciplinary action, where necessary. 5. DISCIPINARY ACTION FOR NON-COMPLIANCE OF REPRESENTATIVE AND SUPERVISOR 36. The FA is required to put in place appropriate disciplinary measures, which may include penalties ranging from issuance of warning letter to contract termination, for situations where the supervisor and representative fail to discharge their responsibilities. 37. Failure of the supervisor and representative to discharge their responsibilities in the life insurance advisory process should also be taken into account in the balanced scorecard framework, which determines their performance and remuneration. - End of document - LIA MU 20/15 of 20 May 2015 Page 6 of 6
MU 20/14 - LIA MINIMUM STANDARD FOR LIFE INSURANCE ADVISORY PROCESS (EFFECTIVE DATE: NO LATER THAN 1 APR 2015)
BY EMAIL ONLY Members Undertaking No. 20 18 August 2014 To: Ordinary and Associate Members MU 20/14 - LIA MINIMUM STANDARD FOR LIFE INSURANCE ADVISORY PROCESS (EFFECTIVE DATE: NO LATER THAN 1 APR 2015)
More informationMU 20/11: LIA MINIMUM STANDARD FOR LIFE INSURANCE ADVISORY PROCESS (1 JUL 12) 1. THIS MEMBERS UNDERTAKING REPLACES MU 20/07 DATED 23 NOV 07.
Members Undertaking No. 20 1 December 2011 To: Ordinary and Associate Members MU 20/11: LIA MINIMUM STANDARD FOR LIFE INSURANCE ADVISORY PROCESS (1 JUL 12) 1. THIS MEMBERS UNDERTAKING REPLACES MU 20/07
More informationDISCLOSURE AND ADVISORY PROCESS REQUIREMENTS FOR ACCIDENT AND HEALTH INSURANCE PRODUCTS
Notice No : MAS 120 Issue Date : 30 January 2004 Last revised on 30 October 2015* DISCLOSURE AND ADVISORY PROCESS REQUIREMENTS FOR ACCIDENT AND HEALTH INSURANCE PRODUCTS Introduction 1. This Notice is
More informationFINANCIAL ADVISERS ACT (CAP. 110)
Monetary Authority of Singapore FINANCIAL ADVISERS ACT (CAP. 110) INFORMATION PAPER ON GOOD PRACTICES FOR LICENSED AND EXEMPT FINANCIAL ADVISERS CONTENTS 1 Introduction 2 Advisory and Sales Practices 2.1
More informationNEW NOTICE ON REQUIREMENTS FOR THE BALANCED SCORECARD FRAMEWORK AND INDEPENDENT SALES AUDIT UNIT
Annex 19 NEW NOTICE ON REQUIREMENTS FOR THE BALANCED SCORECARD FRAMEWORK AND INDEPENDENT SALES AUDIT UNIT Disclaimer: This version of the Notice is in draft form and is subject to change. Notice No: FAA-Nxx
More informationCHAPTER 16 INVESTMENT ENTITIES
CHAPTER 16 INVESTMENT ENTITIES Introduction 16.1 This Chapter sets out the requirements for the listing of the securities of investment entities, which include investment companies, unit trusts, closed-end
More informationGuidance Note on Credit and Credit Control for Credit Unions. October 2007. Office of the Registrar of Credit Unions
Guidance Note on Credit and Credit Control for Credit Unions October 2007 Office of the Registrar of Credit Unions Contents Page Introduction 2 1. The Board of Directors 3 2. Credit Policy 5 3. Credit
More informationMAS Notice 635. 29 November 2013* NOTICE TO BANKS BANKING ACT, CAP 19 UNSECURED CREDIT FACILITIES TO INDIVIDUALS
MAS Notice 635 29 November 2013* NOTICE TO BANKS BANKING ACT, CAP 19 UNSECURED CREDIT FACILITIES TO INDIVIDUALS Introduction 1 This Notice is issued pursuant to section 55 of the Banking Act (Cap. 19)
More informationPowerhouse Ventures Limited (PVL) SHARE TRADING POLICY. Page i
Powerhouse Ventures Limited (PVL) SHARE TRADING POLICY Page i 1. Definitions General terms and abbreviations used in this Policy have the meanings set out below: ASX ASX Listing Rules Audit & Risk Committee
More information18 NCAC 06A.1706 RECORD-KEEPING REQUIREMENTS FOR INVESTMENT ADVISERS (a) Except as otherwise provided in Paragraph (j) of this Rule, every investment
18 NCAC 06A.1706 RECORD-KEEPING REQUIREMENTS FOR INVESTMENT ADVISERS (a) Except as otherwise provided in Paragraph (j) of this Rule, every investment adviser registered or required to be registered under
More informationHTC Corporation Operational Procedures for Lending Funds to Others
Approved by the Ordinary Shareholders Meeting 18 June 2010 HTC Corporation Operational Procedures for Lending Funds to Others Article 1 Purpose and basis These Operational Procedures are adopted pursuant
More informationAct on Undertakings for Collective Investment in Transferable Securities (UCITS), Investment Funds and Professional Investment funds
This is an English translation. The original Icelandic text, as published in the Law Gazette (Stjórnartíðindi), is the authoritative text. Should there be discrepancy between this translation and the authoritative
More informationGUIDANCE NOTE ON OUTSOURCING
GN 14 GUIDANCE NOTE ON OUTSOURCING Office of the Commissioner of Insurance Contents Page I. Introduction.. 1 II. Application...... 1 III. Interpretation.... 2 IV. Legal and Regulatory Obligations... 3
More informationFINANCIAL ADVISERS ACT (CAP. 110)
Monetary Authority of Singapore FINANCIAL ADVISERS ACT (CAP. 110) GUIDELINES ON FAIR DEALING BOARD AND SENIOR MANAGEMENT RESPONSIBILITIES FOR DELIVERING FAIR DEALING OUTCOMES TO CUSTOMERS TABLE OF CONTENTS
More informationPage # 1 Checklist Credit December 2012 (3).docx Date Revised: 12/17/12
State of New Hampshire Insurance Department REVIEW REQUIREMENTS CHECKLIST FOR CREDIT LIFE, ACCIDENT, UNEMPLOYMENT AND DISABILITY INCOME INSURANCE LINE OF BUSINESS: CREDIT TOI CODES: CR01 through CR07 INSTRUCTIONS
More informationShare Trading Policy. Ecosave Holdings Limited ACN 160 875 016. Revision 1: 4 July 2013. 94721781/v2
Share Trading Policy Ecosave Holdings Limited ACN 160 875 016 Revision 1: 4 July 2013 94721781/v2 Table of Contents 1. Introduction...1 2. Definitions...1 3. Scope of transactions...2 4. Standards...2
More informationOperational Risk Publication Date: May 2015. 1. Operational Risk... 3
OPERATIONAL RISK Contents 1. Operational Risk... 3 1.1 Legislation... 3 1.2 Guidance... 3 1.3 Risk management process... 4 1.4 Risk register... 7 1.5 EBA Guidelines on the Security of Internet Payments...
More informationReserve Bank of Fiji Insurance Supervision Policy Statement No. 8 MINIMUM REQUIREMENTS FOR RISK MANAGEMENT FRAMEWORKS OF LICENSED INSURERS IN FIJI
Reserve Bank of Fiji Insurance Supervision Policy Statement No. 8 NOTICE TO INSURANCE COMPANIES LICENSED UNDER THE INSURANCE ACT 1998 MINIMUM REQUIREMENTS FOR RISK MANAGEMENT FRAMEWORKS OF LICENSED INSURERS
More informationInternational Financial Reporting Standards (IFRS)
FACT SHEET September 2011 IAS 24 Related Party Disclosures (This fact sheet is based on the standard as at 1 January 2011.) Important note: This fact sheet is based on the requirements of the International
More informationREVISED SECURITIES TRADING POLICY
1 June 2015 REVISED SECURITIES TRADING POLICY In accordance with ASX Listing Rule 12.10, Echo Entertainment Group Limited (Echo) advises that it has amended its Securities Trading Policy. The revised policy
More informationGUIDELINES ON COMPLIANCE FUNCTION FOR FUND MANAGEMENT COMPANIES
GUIDELINES ON COMPLIANCE FUNCTION FOR FUND MANAGEMENT COMPANIES Issued: 15 March 2005 Revised: 25 April 2014 1 P a g e List of Revision Revision Effective Date 1 st Revision 23 May 2011 2 nd Revision 16
More informationElectricity Settlements Company Ltd Framework Document
Electricity Settlements Company Ltd Framework Document This framework document has been drawn up by the Department of Energy and Climate Change in consultation with the Electricity Settlements Company.
More informationGUIDE TO IMPLEMENTING A REGULATORY FOOD SAFETY AUDITOR SYSTEM
GUIDE TO IMPLEMENTING A REGULATORY FOOD SAFETY AUDITOR SYSTEM FEBRUARY 2016 2 Contents Introduction... 4 Scope and objectives... 5 Scope... 5 Objectives... 5 Responsibilities... 5 The role of the licensee
More informationFlood Insurance III. Common Violations and Consequences for Noncompliance
Flood Insurance III. Common Violations and Consequences for Noncompliance Common Violations of Part 339 Inadequate Insurance Lapsed Insurance Common Violations Force- Placement No Insurance No Notice Provided
More informationSecurities Trading Policy. Keybridge Capital Limited ACN 088 267 190 (Keybridge)
` Securities Trading Policy Keybridge Capital Limited ACN 088 267 190 (Keybridge) Securities Trading Policy 1. Introduction 1.1 This Policy outlines: when directors, senior management and other employees
More informationLONDON STOCK EXCHANGE HIGH GROWTH SEGMENT RULEBOOK 27 March 2013
LONDON STOCK EXCHANGE HIGH GROWTH SEGMENT RULEBOOK 27 March 2013 Contents INTRODUCTION... 2 SECTION A ADMISSION... 3 A1: Eligibility for admission... 3 A2: Procedure for admission... 4 SECTION B CONTINUING
More informationSmart Meters Programme Schedule 8.6. (Business Continuity and Disaster Recovery Plan) (CSP North version)
Smart Meters Programme Schedule 8.6 (Business Continuity and Disaster Recovery Plan) (CSP North version) Schedule 8.6 (Business Continuity and Disaster Recovery Plan) (CSP North version) Amendment History
More informationShare Trading Policy MGT Resources Limited ACN 131 715 645
Share Trading Policy MGT Resources Limited ACN 131 715 645 75418791/v2 Table of Contents 1. Introduction... 1 2. Definitions... 1 3. Scope of transactions... 2 4. Standards... 2 5. Insider trading... 2
More informationLIA Guidelines on Needs-based Sales Process For Individual Health Insurance Products
LIA Guidelines on Needs-based Sales Process For Individual Health Insurance Products OBJECTIVES & DESIRED OUTCOME The objective of these Guidelines is to set a minimum standard for the needs-based sales
More informationPublic Audit (Wales) Act 2004
Public Audit (Wales) Act 2004 CHAPTER 23 CONTENTS PART 1 AUDITOR GENERAL FOR WALES New functions of the Auditor General for Wales 1 Transfer of functions of Assembly 2 Additional functions of Auditor General
More informationABM Resources NL Security Trading Policy
ABM Resources NL Security Trading Policy 1. INTRODUCTION 1.1 The ordinary shares of ABM Resources NL (ABM) are listed on ASX. ABM aims to achieve the highest possible standards of corporate conduct and
More informationMapping of outsourcing requirements
Mapping of outsourcing requirements Following comments received during the first round of consultation, CEBS and the Committee of European Securities Regulators (CESR) have worked closely together to ensure
More informationOFHEO Director of Supervision OFHEO Office of the Director and Associate Directors Chief Executive Officers of Fannie Mae and Freddie Mac
OFHEO Examination Guidance Issuance Date: November 8, 2006 PG-06-002 Subject: Examination for Compensation Practices To: OFHEO Director of Supervision OFHEO Office of the Director and Associate Directors
More informationForeign collective investment schemes
REGULATORY GUIDE 178 Foreign collective investment schemes June 2012 About this guide This guide is for operators of foreign collective investment schemes (FCIS) that are authorised in other jurisdictions
More informationG R O U P T R A D I N G P O L I C Y
G R O U P T R A D I N G P O L I C Y 1. INTRODUCTION These guidelines set out the policy on the sale and purchase of securities in the Company. This policy applies to: all Directors of the Company; all
More informationShare Trading Policy. Australian Careers Network Limited ACN 168 592 434. Doc ID 165479751/v2
Share Trading Policy Australian Careers Network Limited ACN 168 592 434 Ref 304685 Level 14, Australia Square, 264-278 George Street, Sydney Telephone +61 2 9334 8555 NSW 2000 Australia GPO Box 5408, Sydney
More informationShare Trading Policy. China Dairy Corporation Limited ARBN 607 996 449. Hong Kong Registration Number 2190508. Ref GWH:US:545281. Doc ID 292441753/v2
Share Trading Policy China Dairy Corporation Limited ARBN 607 996 449 Hong Kong Registration Number 2190508 Ref GWH:US:545281 Level 14, Australia Square, 264-278 George Street, Sydney NSW 2000 Australia
More informationSHARE TRADING POLICY
T +64 4 499 6830 F +64 4 974 5218 E wellington@bathurstresources.co.nz Level 12, 1 Willeston Street Wellington 6011, New Zealand PO Box 5963 Lambton Quay Wellington 6145, New Zealand 30 October 2015 Market
More informationRegulation for Establishing the Internal Control System of an Investment Management Company
Unofficial translation Riga, 11 November 2011 Regulation No. 246 (Minutes No. 43 of the meeting of the Board of the Financial and Capital Market Commission, item 8) Regulation for Establishing the Internal
More informationGuidance Note on Payment Protection Insurance Mis-Selling Claims
Guidance Note on Payment Protection Insurance Mis-Selling Claims 1. Background 1.1 Payment protection insurance ( PPI ) is intended to cover a borrower s unexpected loss of income as a result of redundancy,
More informationFederal Deposit Insurance Corporation Improvement Act 1
Federal Deposit Insurance Corporation Improvement Act 1 Appendix F SEC. 112. INDEPENDENT ANNUAL AUDITS OF INSURED DEPOSITORY INSTITUTIONS. (a) IN GENERAL. The Federal Deposit Insurance Act (12 U.S.C. 1811
More informationYour. Product Disclosure Statement and Insurance Policy
Your Product Disclosure Statement and Insurance Policy In arranging this insurance Credit Union Australia Limited ABN 44 087 650 959 AFSL No. 238317 is acting pursuant to an agreement with the Insurer
More informationNASAA Recordkeeping Requirements For Investment Advisers Model Rule 203(a)-2 Adopted 9/3/87, amended 5/3/99, 4/18/04, 9/11/05; Amended 9/11/2011
NASAA Recordkeeping Requirements For Investment Advisers Model Rule 203(a)-2 Adopted 9/3/87, amended 5/3/99, 4/18/04, 9/11/05; Amended 9/11/2011 NOTE: Italicized information is explanatory and not intended
More informationIC 24-4.5-7 Chapter 7. Small Loans
IC 24-4.5-7 Chapter 7. Small Loans IC 24-4.5-7-101 Citation Sec. 101. This chapter shall be known and may be cited as Uniform Consumer Credit Code Small Loans. As added by P.L.38-2002, SEC.1. IC 24-4.5-7-102
More informationGUIDELINES ON RISK MANAGEMENT AND INTERNAL CONTROLS FOR INSURANCE AND REINSURANCE COMPANIES
20 th February, 2013 To Insurance Companies Reinsurance Companies GUIDELINES ON RISK MANAGEMENT AND INTERNAL CONTROLS FOR INSURANCE AND REINSURANCE COMPANIES These guidelines on Risk Management and Internal
More informationSchedule 2 - Classification Guide Jersey Expert Funds
Schedule 2 - Classification Guide Jersey Expert Funds Issued April 2008 OBJECTIVE The purpose of this guide is to define an Expert Fund and to set out the characteristics that such a fund would usually
More informationINSURANCE ACT 2008 CORPORATE GOVERNANCE CODE OF PRACTICE FOR REGULATED INSURANCE ENTITIES
SD 0880/10 INSURANCE ACT 2008 CORPORATE GOVERNANCE CODE OF PRACTICE FOR REGULATED INSURANCE ENTITIES Laid before Tynwald 16 November 2010 Coming into operation 1 October 2010 The Supervisor, after consulting
More informationGuidance Statement GS 011 Third Party Access to Audit Working Papers
GS 011 (April 2009) Guidance Statement GS 011 Third Party Access to Audit Working Papers Issued by the Auditing and Assurance Standards Board GS 011-1 - GUIDANCE STATEMENT Obtaining a Copy of this Guidance
More informationBANKING UNIT BANKING RULES OUTSOURCING BY CREDIT INSTITUTIONS AUTHORISED UNDER THE BANKING ACT 1994
BANKING UNIT BANKING RULES OUTSOURCING BY CREDIT INSTITUTIONS AUTHORISED UNDER THE BANKING ACT 1994 Ref: BR/14/2009 OUTSOURCING BY CREDIT INSTITUTIONS AUTHORISED UNDER THE BANKING ACT 1994 INTRODUCTION
More informationMFDA POLICY NO. 2 MINIMUM STANDARDS FOR ACCOUNT SUPERVISION
13.1.2 MFDA Policy No. 2 Minimum Standards for Account Supervision Introduction MFDA POLICY NO. 2 MINIMUM STANDARDS FOR ACCOUNT SUPERVISION This Policy establishes minimum industry standards for account
More information16 LC 37 2118ER A BILL TO BE ENTITLED AN ACT BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
Senate Bill 347 By: Senator Bethel of the 54th A BILL TO BE ENTITLED AN ACT 1 2 3 4 5 6 To amend Title 33 of the Official Code of Georgia Annotated, relating to insurance, so as to provide for extensive
More informationWaterfront Auckland s Credit Card Policy
Waterfront Auckland s Credit Card Policy CONTENTS 1. Policy Statement 2. Background 3. Purpose and Scope 4. Principles and Strategic Alignment 5. Policy Definitions 6. Policy 6.1 Issue of Waterfront Auckland
More informationRISK MANAGEMENT AND COMPLIANCE
RISK MANAGEMENT AND COMPLIANCE Contents 1. Risk management system... 2 1.1 Legislation... 2 1.2 Guidance... 3 1.3 Risk management policy... 4 1.4 Risk management process... 4 1.5 Risk register... 8 1.6
More informationShare Trading Policy. Yancoal Australia Limited ACN 111 859 119
Share Trading Policy Yancoal Australia Limited ACN 111 859 119 Adopted by the Board on 15 June 2012 Policy 1 Objective The purpose of this Policy is to establish a best practice procedure for ensuring
More information(the Funds and each a Fund )
SECOND REMINDER THIS ANNOUNCEMENT AND NOTICE IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION AND DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE FOR UNITS OF THE EXCHANGE
More informationDIVISION OF CORPORATIONS, BUSINESS AND PROFESSIONAL LICENSING
Statutes and Regulations Public Accountancy October 2014 (Centralized Statutes and Regulations not included) DEPARTMENT OF COMMERCE, COMMUNITY, AND ECONOMIC DEVELOPMENT DIVISION OF CORPORATIONS, BUSINESS
More informationMortgage Brokerages, Lenders and Administrators Act, 2006. Additional Draft Regulations for Consultation
Mortgage Brokerages, Lenders and Administrators Act, 2006 Additional Draft Regulations for Consultation Proposed by the Ministry of Finance January, 2008 Mortgage Brokerages, Lenders and Administrators
More informationTerms and Conditions
Terms and Conditions 1. TABLE OF CONTENTS 1. TABLE OF CONTENTS 2. SERVICES OFFERED TO THE CUSTOMER 3. EXECUTION-ONLY ARRANGEMENTS 4. YOUR INVESTMENT OBJECTIVES 5. RESTRICTIONS ON TYPES OF INVESTMENT 6.
More informationGUIDELINES ON INVESTMENT MANAGEMENT FOR LABUAN INSURANCE AND TAKAFUL BUSINESS
GUIDELINES ON INVESTMENT MANAGEMENT FOR LABUAN INSURANCE AND TAKAFUL BUSINESS 1.0 Introduction 1.1 The Guidelines on Investment Management for Labuan Insurance and Takaful Business (the Guidelines) sets
More informationCORPORATE CREDIT CARD
CORPORATE CREDIT CARD CEO Directions CEO Directions define specific responsibilities of Comcare staff and others engaged to assist the organisation meet its objectives. They may also establish a set of
More informationIntroduction. Coverage. Principle 1: Embedded Value (EV) is a measure of the consolidated value of shareholders interests in the covered business.
Introduction Principle 1: Embedded Value (EV) is a measure of the consolidated value of shareholders interests in the covered business. G1.1 The EV Methodology ( EVM ) described here is applied to the
More informationChapter 3 Financial Year
[PART 6 FINANCIAL STATEMENTS, ANNUAL RETURN AND AUDIT Chapter 1 Preliminary 269. What this Part contains and use of prefixes - Companies Act and IFRS. 270. Overall limitation on discretions with respect
More informationCompany Policy. This document details Auckland Airport's policy on, and rules for dealing in the following securities ("Restricted Securities"):
Insider Trading Policy and Guidelines Company Policy This policy applies to all Directors, officers and employees of Auckland International Airport Limited ("Auckland Airport") and its subsidiaries who
More informationCommonwealth of Pennsylvania Department of Banking and Securities Bureau of Securities Division of Licensing, Compliance and Examinations
Commonwealth of Pennsylvania Department of Banking and Securities Bureau of Securities Division of Licensing, Compliance and Examinations Investment Adviser Self-Inspection Checklist November 2015 Investment
More informationThe Mortgage Brokerages and Mortgage Administrators Regulations
1 AND MORTGAGE ADMINISTRATORS M-20.1 REG 1 The Mortgage Brokerages and Mortgage Administrators Regulations being Chapter M-20.1 Reg 1 (effective October 1, 2010) as amended by Saskatchewan Regulations,
More information3. It must be emphasized that these guidelines are intended as a practical resource that can be used by any government that finds them helpful.
INTERNATIONAL LABOUR ORGANIZATION Tripartite Expert Meeting to Adopt Guidelines on Flag State Inspections under the Maritime Labour Convention, 2006 MEFS/20008/8(Rev.) Geneva 15 19 September 2008 Guidelines
More informationINSURANCE BROKERS CODE OF PRACTICE
INSURANCE BROKERS CODE OF PRACTICE INSURANCE BROKERS CODE OF PRACTICE OVERVIEW 4-5 IMPORTANT BACKGROUND INFORMATION What does the Code do for you? (Code Objectives) How to navigate the Code How up to date
More informationReview of an SMSF audit engagement questionnaire
Review of an SMSF audit engagement questionnaire Introduction Instructions for the Reviewer This questionnaire has been designed to help you assess whether the audit of Self Managed Superannuation Funds
More informationJB Hi-Fi Limited Securities Trading Policy
JB Hi-Fi Limited Securities Trading Policy 1. Introduction and scope of this Policy Purpose and objectives 1.1 This document sets out the securities trading policy (Policy) of JB Hi-Fi Limited (JB Hi-
More informationSole Ownership Partnership Corporation Part A. General Information
Mail to: Capital Software 1331 East Grand River, Suite 203 Insurance Agent MVR Agreement East Lansing, MI 48823 Toll Free: (800) 832-4457 Fax: (517) 324-3468 Sole Ownership Partnership Corporation Part
More information銀 行 操 守 部. Banking Conduct Department. Our Ref: B1/15C C2/5C. 8 December 2014. The Chief Executive All Authorized Institutions.
Banking Conduct Department 銀 行 操 守 部 Our Ref: B1/15C C2/5C 8 December 2014 The Chief Executive All Authorized Institutions Dear Sir / Madam, Selling of Non-Linked Long Term Insurance ( NLTI ) Products
More informationTaxpayer Bill of Rights Adopted June 10, 2014
1. The Right to Be Informed Taxpayers have the right to know what they need to do to comply with the tax laws. They are entitled to clear explanations of the laws and IRS procedures in all tax forms, instructions,
More informationJuly 2012. Objectives and key requirements of this Prudential Standard
Prudential Standard CPS 510 Governance Objectives and key requirements of this Prudential Standard The ultimate responsibility for the sound and prudent management of an APRA-regulated institution rests
More informationUK Directors & Officers Liability Insurance Proposal Form (for companies whose turnover exceeds 50 million per annum)
UK Directors & Officers Liability Insurance (for companies whose turnover exceeds 50 million per annum) Direct access to our team of specialist underwriters Dedicated focus on D&O with the support of the
More informationPROFESSIONAL INDEMNITY INSURANCE PROPOSAL FORM FOR ACCOUNTANTS
PROFESSIONAL INDEMNITY INSURANCE PROPOSAL FORM FOR ACCOUNTANTS This proposal form must be completed in black ink by a Partner, Principal or Director of the Company. All questions must be answered to enable
More informationMAKING THE RIGHT CALL.
BEST PRACTICE GUIDELINES FOR TELEPHONE DATA CAPTURE 1 MAKING THE RIGHT CALL. We understand the importance of telephone data capture when talking to your customers. This useful guide will help managers
More informationTerms of Business and Important Information We Must Disclose to You
1. Terms of Business ( Terms ) In these Terms references to we or us are to the firm whose details are set out in the covering letter that accompanies these Terms. We recommend that for your own benefit
More informationCODE GOVERNANCE COMMITTEE CHARTER. 1 Functions and responsibilities of the Code Governance Committee
CODE GOVERNANCE COMMITTEE CHARTER 1 Functions and responsibilities of the Code Governance Committee 1.1 Consistent with the Code and the Constitution, the Code Governance Committee shall be responsible
More informationTHE GENERAL INSURANCE BROKERS CODE OF PRACTICE
THE GENERAL INSURANCE BROKERS CODE OF PRACTICE CONTENTS 1 Introduction Outline of the Code...3 Objectives of the Code...3 Principles of the Code...3 Monitoring of the Code...3 Review and development of
More informationGIB. Proposal Form Professional Indemnity for Accountant/Auditors INSURANCE B OTSWANA. Name of proposer in full. Address of head office
1 GIB G E N E R A L INSURANCE B OTSWANA Name of proposer in full Address of head office Address of branch offices and name(s) of resident partner(s) FOR OFFICIAL USE ONLY Policy Number Premium Agent s
More informationPersonal Data Act (1998:204);
Personal Data Act (1998:204); issued 29 April 1998. Be it enacted as follows. General provisions Purpose of this Act Section 1 The purpose of this Act is to protect people against the violation of their
More informationName of Lead Broker. Name of Sub-Broker. Effective date and duration of Agreement. Name of insured or reinsured. Description of Business
Sub-Broking Agreement A general principle of the law of agency is that an agent must carry out his duties personally and has no general powers to delegate his duties. The appointment of a subagent or sub-broker
More informationProcessor Binding Corporate Rules (BCRs), for intra-group transfers of personal data to non EEA countries
Processor Binding Corporate Rules (BCRs), for intra-group transfers of personal data to non EEA countries Sopra HR Software as a Data Processor Sopra HR Software, 2014 / Ref. : 20141120-101114-m 1/32 1.
More informationHow To Use Nordea Internet And Telephone Banking
TERMS AND CONDITIONS OF INTERNET AND TELEPHONE BANKING SERVICES FOR PRIVATE CUSTOMERS Effective as of 2014-07-10 1. DEFINITIONS 1.1. Terms and Conditions these Terms and Conditions of Internet and Telephone
More informationAct on the Supervision of Credit Institutions, Insurance Companies and Securities Trading etc. (Financial Supervision Act)
KREDITTILSYNET Norway Translation updated August 2003 Translated by Government Authorised Translator Peter Thomas This translation is for information purposes only. Legal authenticity remains with the
More informationCOMMERCIALISM INTEGRITY STEWARDSHIP. Security Breach and Weakness Policy & Guidance
Security Breach and Weakness Policy & Guidance Document Control Document Details Author Adrian Last Company Name The Crown Estate Division Name Information Services Document Name Security Breach & Weakness
More informationDASHBOARD CONFIGURATION SOFTWARE
DASHBOARD CONFIGURATION SOFTWARE RECITALS: The Contractor has designed and a web site for Client, and has agreed to maintain the said web site upon the terms and conditions hereinafter contained.] NOW
More informationProfessional Indemnity Insurance for Insurance Intermediaries Proposal Form
Professional Indemnity Insurance for Insurance Intermediaries Proposal Form Professional Indemnity Insurance for Insurance Intermediaries Proposal Form Please read the following carefully before completing
More informationInvestment Structures Insurance Solutions (ISIS)
Investment Structures Insurance Solutions (ISIS) Directors and Officers Liability Entities Securities Professional Liability Crime Proposal form Instructions to applicant Completing the Proposal Form Please
More informationThis document is meant purely as a documentation tool and the institutions do not assume any liability for its contents
2004R0550 EN 04.12.2009 001.001 1 This document is meant purely as a documentation tool and the institutions do not assume any liability for its contents B REGULATION (EC) No 550/2004 OF THE EUROPEAN PARLIAMENT
More informationProfessional Indemnity Proposal Form. for. Finance & Mortgage Brokers
Professional Indemnity Proposal Form for Finance & Mortgage Brokers Address: 5/3352 Pacific Highway Postal: PO Box 976 Springwood QLD 4127 Springwood QLD 4127 Phone: 07 3387 2800 Fax: 07 3208 2200 Email:
More informationMFDA Bulletin. Policy. For Distribution to Relevant Parties within your Firm
Contact: Paige Ward General Counsel & Vice-President, Policy Phone: 416-943-5838 E-mail: pward@mfda.ca MFDA Bulletin Policy BULLETIN #0560 P February 22, 2013 For Distribution to Relevant Parties within
More informationACCOUNTANTS PROFESSIONAL INDEMNITY INSURANCE PROPOSAL FORM IMPORTANT FACTS RELATING TO THIS PROPOSAL FORM
Australian Indemnity ACCOUNTANTS PROFESSIONAL INDEMNITY INSURANCE PROPOSAL FORM IMPORTANT FACTS RELATING TO THIS PROPOSAL FORM The Purpose of this Proposal Form is to set out all relevant information for
More informationAct on the Management of Alternative Investment Funds
FINANSTILSYNET Norway Translation March 2015 This translation is for information purposes only. Legal authenticity remains with the official Norwegian version as published in Norsk Lovtidend. Act on the
More informationNEW YORK STATE HOMES AND COMMUNITY RENEWAL S 80/20 HOUSING PROGRAM
NEW YORK STATE HOMES AND COMMUNITY RENEWAL S 80/20 HOUSING PROGRAM ELIGIBILE PROJECTS New construction of multifamily rental housing properties. Generally, HFA expects that applications for project loans
More informationWheaton College Audit Committee Red Flag Identity Theft Prevention Program Meeting of February 20, 2009
Wheaton College Audit Committee Red Flag Identity Theft Prevention Program Meeting of February 20, 2009 Late last year, the Federal Trade Commission (FTC) and Federal banking agencies issued a regulation
More informationREGULATIONS GUIDING SECURITIES MARGIN TRADING
REGULATIONS GUIDING SECURITIES MARGIN TRADING (Issued with Decision 637-QD-UBCK dated 30 August 2011, effective from date of signing) TABLE OF CONTENTS CHAPTER 1... 1 General Provisions... 1 Article 1
More informationT G Baynes Solicitors Client Care Guide for Residential Conveyancing
T G Baynes Solicitors Client Care Guide for Residential Conveyancing The terms and conditions of business set out in the this Client Care Guide comprise the terms upon which T G Baynes Solicitors will
More informationClient Asset Requirements. Under S.I No.60 of 2007 European Communities (Markets in Financial Instruments) Regulations 2007
Client Asset Requirements Under S.I No.60 of 2007 European Communities (Markets in Financial Instruments) Regulations 2007 Instructions Paper November 2007 1 Contents 1 Contents 2 Introduction 1 2.1 Scope
More informationNOTICE ON OUTSOURCING
CONSULTATION PAPER P018-2014 SEPTEMBER 2014 NOTICE ON OUTSOURCING PREFACE 1 MAS first issued the Guidelines on Outsourcing in 2004 1 ( Guidelines ) to promote sound risk management practices for the outsourcing
More information