Regulator denies Ilas rules were imposed too fast

Hong Kong's Office of the Commissioner of Insurance (OCI) has denied that firms have had insufficient time to prepare investment-linked products to comply with new rules in the city. On January 1, GN15 regulations setting out new standards for insurers underwriting investment-linked assurance schemes (Ilas) came into effect. A week later the insurance regulator OCI issued guidance on new rules for disclosing the calculation of remuneration paid to the distributors of Ilas produc…