The FSCA has just released their response to comments received on the published draft Exemptions from the STIA and LTIA Regulations. In addition, the FSCA also published the following two exemption notices which relate thereto: 1. FSCA INS Notice 4 of 2020 FSCA Insurance Notice 4 exempts independent intermediaries from Regulation 4.2(3) insofar as it relates […]
The FSCA has extended the period of compliance for collection of premiums by intermediaries, specifically the requirement for a separate bank account to only contain premiums, from 28 September 2019 until 1 February 2020. Paull Lawrence from Moonstone Compliance points out that this is largely due to the retail market where insurance is ancillary to the commercial contract and […]
