Insurance News
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Wednesday, 24 June 2009
BNM moves to principle-based regulatory regime
BNM is moving towards principle-based regulatory regime, away from the rule-based regime in the past.
In early 2009, RBC was introduced. In July, "Guidelines on Introduction of New Products" will be implemented to ensure that consumers are clearly and fully informed of the nature and risks associated with the products.
Towards end of 2009, the Bank will consult with the industry on risk management standards.
Source: The Star, Business Times
Labels: BNM
About Me
- Name: Teh Loo Hai
- Location: Kuala Lumpur, Malaysia
Loo Hai is an actuarial recruiter cum actuarial consultant. He has over 20 years of work experience gained in Malaysia and Australia in the actuarial, insurance, takaful and pension fields.
Previous Posts
- Progress in Transformation of Agents
- STMB wants to overtake Etiqa Takaful
- Lonpac sets targets
- Good potential for financial advisors in Malaysia
- BNM firm on premium rebates
- AEON to sell insurance policies
- AIA rebrands
- CIMB Aviva sets targets
- HLA Secure Income Builder
- PA for DiGi's customers
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