China Insurance Regulatory Commission, Guidelines for Compliance Management by Insurance Companies
中国保险监督管理委员会保险公司合规管理指引
November 02, 2007 | BY
clpstaff &clp articles &Guidelines for insurance companies to cope with compliance risks.
Issued: September 7 2007
Effective: January 1 2008
Interpreting Authority: China Insurance Regulatory Commission
Applicability: For the purposes of these Guidelines, the term "compliance" means that the insurance business and management acts of an insurance company, its employees and its marketing personnel shall comply with laws and regulations, the provisions of the regulatory authority, the self-regulation rules of the industry, the company's internal management rules and the ethical standard of good faith (Article 2).
Main Contents: The Guidelines comprise:
Part One: General Provisions
Part Two: Compliance Duties of the Board of Directors, Supervisory Board and General Manager
Part Three: Compliance Officer and Compliance Management Department
Part Four: Compliance Management
Part Five: External Regulation of Compliance Management
Part Six: Supplementary Provisions
Related Legislation: PRC Company Law (Amended), Oct 27 2005, CLP 2005 No.10 p.21; Provisions for the Administration of Insurance Companies, May 13 2004, CLP 2004 No.6 p.43; and Guiding Opinions on Regulating the Governance Structure of Insurance Companies (Trial Implementation), Jan 5 2006, CLP 2006 No.3 p.6
Full Translation: See page 45
clp reference:3910/07.09.07prc reference:保监发 [2007] 91 号promulgated:2007-09-07effective:2008-01-01This premium content is reserved for
China Law & Practice Subscribers.
A Premium Subscription Provides:
- A database of over 3,000 essential documents including key PRC legislation translated into English
- A choice of newsletters to alert you to changes affecting your business including sector specific updates
- Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
Already a subscriber? Log In Now