This consultation paper sets out the remaining amendments to Regulations, Notices and Guidelines for the rest of the Banking (Amendment) Act 2020 (BAA) that have not yet commenced.

Consultation number:

P010-2020

Start date:

02 December 2020

Closing date:

15 January 2021

MAS response date:

30 June 2021

Status:

Responded

Requirements and standards in relation to disclosure, investment guidelines, borrowing limits and operational practices for investment-linked policies.

To update the Notice to include that an insurance agent includes a merchant bank licensed under the Banking Act.

Sets out the requirements under the risk-based capital framework for all licensed insurers, including the way in which assets and liabilities are to be valued.

Requirements for direct life insurers to exercise due diligence and conduct their business with high ethical standards, to guard against money laundering and terrorism financing.