This circular informs Members the Supplementary Call for 2015 Policy Year, Closed Policy Year and Open Policy Year

The Boards of all Clubs in the International Group have decided that Clubs should provide the necessary certification. The purpose of this Circular is to provide an update to Members regarding the steps which are being taken to enable Members to meet the financial security requirements.

The entry into force of the amendments to MLC raises a number of complex and novel questions. These FAQs are intended to provide guidance to assist Members and Clubs in the run up to entry into force of the amendments on 18 January 2017. While efforts have been made to provide clarity, uncertainty remains on some aspects of the financial security requirements.

Following four years of consultation and an extensive review by a CMI International Working Group (IWG), the YAR 2016 were adopted by the CMI Assembly at its conference in New York in early May.