Welcome to our Insurance Regulatory eBulletin

Welcome to this edition of our Insurance Regulatory eBulletin, which keeps you updated with significant regulatory developments and their implications across the insurance sector.

This month saw both the PRA and the FCA set out their Business Plans for 2018/19, and there were no surprises about the continuing themes of both regulators’ focus and priorities for the coming year. The Treasury started consulting on the future regulation of claims management companies, and the PRA continued with its efforts to bring proportionality on Solvency II implementation with new consultations on matters such as the audit of the public disclosure requirements. A theme of both the PRA and FCA, was Brexit and this was the subject of a speech by Andrew Bailey where he set out the need for regulatory mutual recognition rather than the EU’s preference for regulatory equivalence. There is clearly much to be negotiated before we know what the post-Brexit regulation of financial services looks like.

I hope you enjoy reading this latest update. Please do not hesitate to contact myself or your normal Moore Stephens contact if you have any concerns over any matter highlighted in this update.