FMA warns new regime concerns all advisers, and more daily news
Legal and regulatory review for the life and health insurance industry

Legal and regulatory update for the Life and Health Insurance sector

11 Mar 2021 – Takeovers Panel released three updated Guidance Notes as follows:

  • Independent Advisers. The amendments made in this revision are to Appendix A:  The Panel's Policy on the Approval of Independent Advisers.
  • Panel’s Exemption Powers - providing guidance as to when exemptions are likely to be granted.
  • Creeping Acquisitions - providing information on the ability of a holder or controller of between 50% and 90% of the voting rights in a Code company to increase its control percentage by "creeping" under rule 7(e) of the Code.

11 Mar 2021 - ASIC consults on implementing a deferred sales model for add-on insurance products. The deferred sales model introduces a four-day pause between the sale of a principal product or service and the sale of an add-on insurance product. The last item will be of particular interest to banks, credit card issuers, airlines, and other organisations where insurance is commonly sold as an add-on. 


Feed You can follow this conversation by subscribing to the comment feed for this post.

The comments to this entry are closed.