FCA enforcement action increases in wake of senior managers regime15 Aug 2018

Out-Law Guides

• The Senior Manager and Certification Regime (SMCR) for insurers

  The Senior Managers and Certification Regime (SMCR), which is designed to make individuals at financial firms more accountable, will apply to insurers from 10 December 2018.

• UK register of trust ownership

  This guide was updated in December2017

• Solvency II: the EU regulatory regime for insurers

  The EU's Solvency II Directive came into force on 1 January 2016. The directive consolidates and harmonises existing EU insurance directives including life and non-life directives, the reinsurance directive and various others.

• The Insurance Distribution Directive: changes to the regulation of insurance intermediaries in the EU

  The Insurance Distribution Directive  makes it easier for firms to trade cross-border, create a level playing field among all participants and strengthen policyholder protection.  

• The Insurance Act 2015: practical changes for insurers to consider

  The 2015 Insurance Act (2015 Act) applies to all commercial contracts of insurance, and variations to existing contracts of insurance, from 12 August 2016 and introduces what the UK government has described as “the biggest reform to insurance contract...

• Solvency II: new regulatory requirements for outsourcing by insurance undertakings

  New rules will apply when insurers outsource "critical or important operation functions or activities" once the Solvency II regulatory regime comes into force on 1 January 2016. This short guide will provide a brief overview of the requirements, as well as...