Financial Regulatory Commission discussed 21 issues through its 20th session. During this session the 50,000 insured bonds with face value of MNT 10,000 by Erchim Engineering LLC were registered. These are bonds with interest and principle payments insured by a third party. Insured bonds are usually found as a feature of municipal bonds; they are purchased, underwritten and repackaged by a financial guarantee company who then sells the issue to investors. Funds raised with issuing the insured bonds will be directed at financing the current assets to fund the bid project implementation.
During the session insurance actuary regulations were renewed and approved under "Actuary Services Authorization, actuary standard evaluation and monitoring, assessment and reporting regulation". This document will now regulate the actuary authorization certificate duration, issuance and termination and the renewed regulation imposes increased responsibility for the actuaries. Moreover, the new regulation has eliminated actuary service fees so that the number of actuaries will increase.
Source: Financial Regulatory Commission
Financial Regulatory Commission discussed 21 issues through its 20th session. During this session the 50,000 insured bonds with face value of MNT 10,000 by Erchim Engineering LLC were registered. These are bonds with interest and principle payments insured by a third party. Insured bonds are usually found as a feature of municipal bonds; they are purchased, underwritten and repackaged by a financial guarantee company who then sells the issue to investors. Funds raised with issuing the insured bonds will be directed at financing the current assets to fund the bid project implementation.
During the session insurance actuary regulations were renewed and approved under "Actuary Services Authorization, actuary standard evaluation and monitoring, assessment and reporting regulation". This document will now regulate the actuary authorization certificate duration, issuance and termination and the renewed regulation imposes increased responsibility for the actuaries. Moreover, the new regulation has eliminated actuary service fees so that the number of actuaries will increase.
Source: Financial Regulatory Commission