29 March 2021
The assumptions used to calculate redress for unsuitable defined benefit transfers are set out in the FCA guidance document FG17/9. FG17/9 was issued in October 2017 following a consultation period earlier in 2017. On 3 March 2021, the FCA announced that it would be updating FG17/9 in mid-March, without a consultation period. It also confirmed that any change to the guidance would be backdated to 25 November 2020 meaning that some completed calculations would need to be revisited. The upda...
25 June 2020
In keeping with managing the burden on firms' resources, the PRA considers that the existing Regulatory Supervisory Report (RSR) cycle will continue. Effectively, in terms of future submissions, wh...
24 June 2020
The statement made by Rishi Sunak, The Chancellor of the Exchequer, on 23 June 2020 included the following in respect of Solvency II and insurers: The Government also plans to bring forward a rev...
23 June 2020
Under EIOPA's latest Solvency II Taxonomy Roadmap, the (solo) deadlines for the remaining 2020 reference dates are as follows: 2020 Q2 4 August 2020 2020 Q3 4 November 2020 2020 Q4 4 Februar...
22 June 2020
On 11 June, the Joint Forum on Actuarial Regulation (JFAR) issued an updated Risk Perspective identifying 8 ‘hotspots’. The report sets out the collective view of the regulators on risks to high qu...
17 June 2020
The PRA has published the letter sent to participating firms Insurance Stress Test 2019 and Covid-19 stress testing providing feedback for general and life insurers. The announcement of the test wa...
20 June 2018
This week, OAC was pleased to attend and support the Association of Financial Mutuals (AFM), including representatives of its membership, at an 'All-Party Group for Mutuals' meeting in Westminster,...
"OAC’s actuaries provided an independent review of our research into investment strategies for retirement savings. Their specialist expertise and diligence in reviewing our work allowed for an appropriate level of challenge to our methodology and strengthened conviction in our conclusions."
