UK Insurance: FCA (5 September 2016)

OAC Digest
FCA, Mutuals

05 September 2016

Selected recent news from the UK's conduct regulator:

On 2 September, the FCA published Quarterly Consultation Paper No. 14: CP16/21. This is of particular relevance to parties interested in deferred shares issued by insurer mutual societies and friendly societies, under the Mutuals Deferred Shares Act 2015. The regulator proposes to amend the Handbook definition of ‘mutual society shares’ to include the new shares. They also propose additional safeguards should firms wish to raise capital from ordinary retail investors. It should be possible for firms to issue these shares from January 2017. Comments on this issue are requested by 2 November 2016.  

David Gray

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David Gray
Consultant Actuary

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