Bank Negara Malaysia has issued a policy document setting out registration procedures and professionalism requirements for registered adjusters, aimed at strengthening how they run their businesses and deal with customers. The framework introduces requirements covering fit and proper criteria, governance and oversight, and business conduct expectations. Key updates reflect the amended Order on Adjusters P.U. (A) 468, including refined fit and proper criteria for key responsible persons, and a clarification that adjusting work must be carried out entirely by a registered adjuster’s full-time adjusting employees only. Supporting materials published alongside the policy document include a registration form, frequently asked questions, and the relevant gazette orders. The policy document takes effect on 29 August 2025.
Bank Negara Malaysia 2025-08-29
Bank Negara Malaysia issues policy document tightening registration and professionalism requirements for registered adjusters
Bank Negara Malaysia has issued a policy document detailing registration procedures and professionalism requirements for registered adjusters, enhancing business operations and customer interactions. Key updates include refined fit and proper criteria for key responsible persons and a mandate that adjusting work be performed solely by full-time employees of registered adjusters. The policy document is effective from 29 August 2025.