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...
![Suitability of [DB] Pension Transfer Advice](/media/1019/istock000069288285large.jpg?anchor=center&mode=crop&width=350&height=260&rnd=131003633030000000)
10 October 2020
Since the introduction of pensions freedoms in April 2015, consumers have more options available to access their pensions. Furthermore, recent changes in the financial environment have pushed trans...
30 June 2020
Technical Information and Relevant Currencies On 30 June, the PRA published "Consultation Paper CP5/20 Solvency II technical information: The PRA’s proposed approach to the publication at the end...
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...
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...
11 May 2018
The process of creating compliant financial promotion and marketing materials isn't straightforward. Firms have to balance their sales message (what they want to say) with strict regulatory require...
"We have adopted Mo.net as our actuarial modelling tool for a number of years. It is easy to use and understand, and extremely flexible. As a result we have been able to develop a platform for modelling our Solvency II requirements. Both business and IT staff have found the system straightforward to use, and it has integrated well with our other software platforms. Plus, OAC has provided excellent support during development and maintenance."
