FITNESS AND PROPRIETY GUIDANCE
In an effort to enhance regional cooperation, membership felt the need to develop a common guidance in the assessment of fitness and propriety (F&P) of individuals performing or proposing to perform key functions or take up senior roles within the insurance sector and across the region.
MULTILATERAL MEMORANDUM OF UNDERSTANDING (MMOU)
The MMoU is entered into among Regional Regulatory Authorities (“Authorities”) to facilitate information exchange and other assistance. Fourteen Authorities are presently signatories to the MMOU. Negotiations with the other Authorities are ongoing.
COLLEGE OF REGULATORS (COR) FRAMEWORK
During the 2019 AGM, a technical working group presented a draft framework for supervisory colleges of regulated entities. This document was unanimously approved. A supervisory college is a forum for cooperation and communication between the involved supervisors, established for the fundamental purpose of facilitating the effectiveness of the supervision of regulated entities.