On November 6, the State Administration of Financial Supervision and Administration issued the “Administrative Measures on the Qualifications of Directors, Supervisors and Senior Managers of Insurance Companies”. It is intended to further improve the admission management of insurance company directors, supervisors and senior managers, and publicly solicit comments from the public. The draft for solicitation of comments consists of 6 chapters and 66 articles, establishing general working rules for insurance company qualification management, refining the conditions of employment for directors, supervisors and senior managers, clarifying the procedures for approval and reporting of qualifications, and supervision and management requirements for directors, supervisors and senior managers. Furthermore, the draft for solicitation of comments defines relevant legal responsibilities and clarifies circumstances relating to disapproval, revocation of qualifications, and industry bans.

On November 6, the State Administration of Financial Supervision and Administration issued the “Administrative Measures on the Qualifications of Directors, Supervisors and Senior Managers of Insurance Companies”. It is intended to further improve the admission management of insurance company directors, supervisors and senior managers, and publicly solicit comments from the public. The draft for solicitation of comments consists of 6 chapters and 66 articles, establishing general working rules for insurance company qualification management, refining the conditions of employment for directors, supervisors and senior managers, clarifying the procedures for approval and reporting of qualifications, and supervision and management requirements for directors, supervisors and senior managers. Furthermore, the draft for solicitation of comments defines relevant legal responsibilities and clarifies circumstances relating to disapproval, revocation of qualifications, and industry bans.