Amendments of the Directions for Sale of Investmentlinked Insurance Products
2017-08-28
In order to enhance the implementation of the “know your customer” (KYC) procedure in the insurance industry for effective protection of investors’interests, the FSC announced the amendments of article 4 of the Directions on August 28, 2017. According to the amendments, insurance companies should incorporate assessment of professional knowledge about financial products and trading experiences of a professional investor into the KYC procedure and report the assessment mechanism to the board of directors for approval.
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Update:
2018-01-23