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Guidelines

FSCA Notices – Extension of various exemptions

The FSCA has released the following Notices:

1. FSCA FAIS Notice 68 of 2020

Amendment of Exemption of Certain FSPs who are Long-term Insurers or Short-term Insurers from Section 13 of the General Code of Conduct, 2020.

The purpose of the above-mentioned amendment is to extend the Exemption of Certain FSPs who are Long-term Insurers or Short-term Insurers from section 13 of the General Code of Conduct, 2015 ( FAIS Notice 50 of 2015) for a further 2 years.

2. FSCA FAIS Notice 69 of 2020

Amendment of Exemption of Certain Financial Services Providers from the Professional Indemnity and Fidelity Insurance Cover Requirements, 2020.

The purpose of the above-mentioned amendment is to extend the Exemption of Certain Financial Services Providers (i.e. Category I financial services providers that renders financial services in respect of financial products belonging to Long-term Insurance subcategory A and/or friendly society benefits only) from the Professional Indemnity and Fidelity Insurance Cover Requirements, 2017 ( FAIS Notice 110 of 2017) for a further 2 years.

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