IRDAI issues Circular for insurance intermediaries

May 20, 2020 | by Avantis RegTech Legal Research Team


Industry Specific Compliance

The Insurance Regulatory and Development Authority of India (IRDAI) on May 18, 2020 has issued a Circular for insurance intermediaries in order to ensure that the compliances of Notification of Press Note No. 3 dated April 17, 2020 and Notification of the Foreign Exchange Management (Non-debt Instruments) (Second Amendment) Rules, 2020. The insurance intermediaries shall submit an undertaking duly signed by the Principal Officer and Compliance Officer. It shall be accompanied by the Board of Directors of the insurance intermediary and necessary government’s approval.

 


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