Market Conduct Annual Statement Waiver and Extension Request

The MCAS Waiver and Extension Request application is used to manage Market Conduct Annual Statement filing exceptions.  A request is created and submitted to the state by an authorized company user through the Industry MCAS entry system.  A PICS event is available to alert the state of waiver or extension requests awaiting state action.  A specific request is accessible through a link on the MCAS Filing Status Report (see iSite+ Help for details about report) or the MCAS Company Waiver and Extension Report (see iSite+ Help for details about report).

The following information is displayed in the Industry Request portion of the screen where the regulator is provided read-only access.

• State – state for which the waiver or extension is requested.
• LOB – line of business for which the waiver or extension applies.
• Type – waiver or extension.
• Extended Dt-(date) – date to which the company requests an extension (does not display if Type is waiver).
• Company Comment – an explanation of why the waiver or extension is requested (optional).
• Entered By – user ID of the industry person who entered the request.

The State Response area of the screen contains the following fields for update by a state-authorized regulator:

• Status – new requests display as Pending until the regulator changes to Approved or Denied from a drop down list.
• Extend Dt-(date) - date to which the state grants the extension (does not display if Type is waiver or extension is denied).
• State Comments – information regarding the state’s decision (optional).

Buttons

• Back - returns to previous screen without saving.
• Submit - save any changes made on the screen.

The Company contact information at the bottom of the screen is for the state’s convenience in the event the request prompts questions or requires further discussion with the company.

The regulator-updated status replaces Pending on both the MCAS Filing Status Report and the MCAS Company Waiver and Extension Report.  The company sees the state’s decision via the Industry MCAS entry system.