WORD OF THE DAY® – Clean-Up Call
Solvency II is organised around three core pillars of prudential regulation, which ensure the safety and soundness of (re)insurers, in line with the scale, nature and complexity of their business: - Pillar One focuses on...more
On 12 December 2022, the three European Supervisory Authorities (“EBA,” “EIOPA” and “ESMA”) published a joint advice on the review of the securitisation prudential framework....more
The final guidelines create new obligations for insurers that will impact cloud outsourcing arrangements. On 6 February 2020, the European Insurance and Occupational Pensions Authority (EIOPA) published its final...more
BREXIT - The Financial Services (Miscellaneous) (Amendment) (EU Exit) (No.3) Regulations 2019 On 24 October, the Financial Services (Miscellaneous) (Amendment) (EU Exit) (No.3) Regulations 2019 were made, and an...more
SEMINARS - ESG and sustainable finance conference On 11 November, 8:30am to 1:00pm, A&O will be hosting its inaugural ESG and sustainable finance conference. The conference will bring together a wide range of market...more
We mentioned in our blog on 12 April 2019 that the European Insurance and Occupational Pension Authority (EIOPA) intended to publish guidance on cloud outsourcing in the (re)insurance sector. ...more
BREXIT- Draft Equivalence Determinations for Financial Services and Miscellaneous Provisions (Amendment etc) (EU Exit) Regulations 2019 laid before Parliament - On 17 January, a draft version of the Equivalence...more
3 April - The Financial Conduct Authority ("FCA") published a press release, warning that it intends to take action against general insurance firms that fail to properly implement the rules aimed at increasing...more
BREXIT - European Commission legislative proposal for Regulation on relocation of EBA - On 29 November, the EC adopted a legislative proposal for a Regulation containing amendments to the EBA Regulation (Regulation...more
BREXIT - EBA relocation to Paris - On 21 November, the Council of the EU published a press release announcing that the ministers of EU member states other than the UK have selected Paris as the new location of the EBA....more
European Commission Inception Impact Assessment on Legislative Proposal for EU Framework on Crowdfunding - On October 30, 2017, the European Commission published an inception impact assessment for a legislative proposal...more
Brexit - Brexit – PRA letter to HoC Treasury Committee on firms' contingency planning - On 9 August, the HoC Treasury Committee published a letter (dated 2 August) from Sam Woods, BoE Deputy Governor, Prudential...more
BREXIT - CRDV IV – EBA final draft RTS and ITS on authorisation of credit institutions - On 14 July, the EBA published a report setting out the following final draft technical standards: (i) Final draft RTS on the...more
The FCA and PRA announced changes to enforcement process with the aim of strengthening the transparency and effectiveness of enforcement decision-making processes. Some of the changes have already come into force, the rest...more
Rating Agency Developments - On November 9, 2016, Fitch updated its ratings criteria for analyzing U.S. wireless tower transactions. On November 8, 2016, DBRS published its ratings methodology for Canadian trade...more
FHFA Requests Input on Credit Risk Transfer Transactions - On June 29, 2016, the Federal Housing Finance Agency published a report outlining its perspective on the credit risk transfer programs of Fannie Mae and Freddie...more
SEC Adopts Business Conduct Standards for Security-Based Swap Dealers and Major Security-Based Swap Participants - On April 15, 2016, the Securities and Exchange Commission adopted final rules modifying regulations "for...more
SEC Proposes to Amend Rules Governing Its Administrative Proceedings - On September 24, the U.S. Securities and Exchange Commission (the "SEC") proposed to amend rules governing its administrative proceedings. Key...more
On 30 September 2015, the European Commission (the “Commission”) published a proposal for a regulation (the “Proposed Regulation”)1 intended to harmonise existing EU laws applying to securitisations (including proposed...more