Regulator’s spotlight now firmly on COREP returns accuracy

Last year, the PRA issued a ‘Dear CEO letter’ setting out its intention to review the accuracy of COREP returns. Now, the Regulator has started to press ahead with their review, and has issued a wave of S166 reviews to investigate individual business’ COREP processes and procedures. We now believe that the next step will be for the FCA to take the same approach for those firms that fall under its regulation.

Another Finance Bill!

With the publication of three Finance Bills planned for 2017 it has been increasing difficult to follow what has been included in each Bill and what each of the Bills are called. Our update highlights the recent changes.

SAO rotation in the Lloyd's market

The provision of Statements of Actuarial Opinion (SAOs) is an important aspect of the control system that Lloyd’s applies to the society as a whole in order to ensure the robustness of technical provisions and the general maintenance of high technical standards.