Product marketing cessation requires an IIO to stop distributing products promptly after regulatory direction is received. Product approval controls require an IIO, upon receipt of a direction from the Authority under regulation 10, to forthwith cease marketing and ... Summary
International Financial Services Centres Authority (Insurance Products and Pricing) Regulations, 2022
Product marketing cessation requires an IIO to stop distributing products promptly after regulatory direction is received.
Product approval controls require an IIO, upon receipt of a direction from the Authority under regulation 10, to forthwith cease marketing and distributing the affected product. This cessation obligation applies to distribution in the same name and under any other name. It prevents the IIO from continuing to market or distribute the product by changing its designation following the Authority's direction.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.