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Tag Archives: PRA Rulebook

Posted in Regulatory and legislative updates, UK

UK: Corporate Insurance Newsletter – April 2016

The Hogan Lovells’ Corporate Insurance Newsletter for April Newsletter has been published.  This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants.  In this issue, amongst other items, we cover: IAIS developments FCA/PRA updates Law Commissions review of insurance interest Developments on creating a secondary annuity market

Posted in Regulatory and legislative updates, UK

UK: Corporate Insurance Newsletter – March 2016

The Hogan Lovells’ Corporate Insurance Newsletter for March Newsletter has been published.  This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants.  In this issue, amongst other items, we cover: IAIS developments FCA/PRA updates Solvency II updates Update on the Insurance Distribution Directive    

Posted in Regulatory and legislative updates, UK

Corporate Insurance Newsletter – January 2016

The Hogan Lovells’ Corporate Insurance Newsletter for January has been published.  This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants.  In this issue, amongst other items, we cover: IAIS developments FCA/PRA updates Solvency II updates Update on the Insurance Distribution Directive

Posted in Regulatory and legislative updates, UK

Corporate Insurance Newsletter – December 2015

The Hogan Lovells’ Corporate Insurance Newsletter for December has been published.  This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants.  In this issue, amongst other items, we cover: IAIS developments FCA/PRA updates Solvency II updates Update on the Insurance Distribution Directive

Posted in Regulatory and legislative updates, UK

UK: Corporate Insurance Newsletter – November 2015

The Hogan Lovells’ Corporate Insurance Newsletter for November has been published.  This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants.  In this issue, amongst other items, we cover: IAIS developments FCA/PRA updates Solvency II updates Update on the Insurance Distribution Directive

Posted in Regulatory and legislative updates, UK

UK: New PRA Fundamental Rules

The Prudential Regulatory Authority (“PRA”) has published a new PRA Rulebook (PS5/14 – The PRA Rulebook).  PS5/14 includes the PRA’s final Fundamental Rules (“FRs”). The FRs apply to all PRA firms (subject to legal restrictions) including insurers as is effective from 19 June 2014. (Principles for Business will continue to be imposed by the Financial

Posted in Regulatory and legislative updates, UK

UK: Capital extractions within the general insurance run-off sector

The PRA’s Supervisory Statement SS4/14 confirms the PRA’s approach regarding requests to extract capital from a general insurer during its run-off. It is clear that the PRA considers that capital extractions weaken the level of policyholder protection. The tools proposed to mitigate this risk are scrutiny of the firm’s current and expected future financial position,

Posted in Regulatory and legislative updates, UK

UK: Proposal for new PRA Fundamental Rules

On 23 January 2014, the Prudential Regulatory Authority (“PRA”) published further details of its proposals for a new PRA Rulebook (CP2/14 – The PRA Rulebook). CP 2/14 includes proposals for the PRA to replace the Principles for Businesses (“Principles” or “PRIN”) with Fundamental Rules (“FRs”). The FRs apply to all PRA firms (subject to legal

Posted in Regulatory and legislative updates, UK

UK: Proposals for a new PRA Rulebook

On 23 January 2014, the Prudential Regulatory Authority (“PRA”) published further details of its proposals for a new PRA Rulebook (CP2/14 – The PRA Rulebook). Currently the PRA “shares” with the Financial Conduct Authority the rules and guidance contained in the Handbook which they inherited from the Financial Services Authority in April 2013. The PRA