UK Insurance: PRA (5 September 2016)

OAC Digest
Governance, risk & compliance, Life insurance, PRA / Bank of England, SIMR, Solvency II

05 September 2016

Selected recent news from the UK's prudential regulator:

The PRA have updated their "Strengthening accountability" webpage with a further reminder to firms that on 7 September 2016, Solvency II firms and groups must have a Scope of Responsibilities in place for all Senior Insurance Management Functions and notified the PRA of all Key Function Holders. Whilst only Solvency II firms will be required to comply with the new whistleblowing rules that come into effect on the same date, the PRA has stated that "... a wider range of firms ... may wish to comply voluntarily."    

David Gray

For more information
David Gray
Consultant Actuary

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