Clarification Issued By The FIAU With Respect To Insurance Brokers And Tied Insurance Intermediaries - Insurance
To print this article, all you need is to be registered or login on Mondaq.com. On 2nd February 2021, the Financial Intelligence Analysis Unit (FIAU) issued an Interpretative Note in relation to the interpretation of Article 2(1)(d) of the Prevention of Money Laundering and Funding of Terrorism Regulations (the " Regulations"), the interpretation of which was causing difficulty to certain entities and individuals operating within the insurance sector. Regulation 2(1)(d) provides that any insurance intermediary activities carried out by an insurance intermediary or by a...
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