The PRA’s supervisory statement on outsourcing arrangements and managing third party risk requires insurers to take action now, to ensure that outsourcing agreements which are currently being negotiated comply with the new...more
The FCA recently released the latest in a long series of papers relating to the Senior Managers and Certification Regime (“SMCR”). FCA Consultation Paper CP19/4 sets-out new measures designed to “optimise” the SMCR ahead of...more
On 23 January 2019 the UK Financial Conduct Authority (FCA) published Consultation Paper CP19/4 which, amongst other things, proposes to exclude the Head of the Legal function from the Senior Managers Regime (SMR). The...more
Recent private equity investments in high-profile deals, such as Bain Capital’s acquisition of esure and Apollo’s acquisition of Aspen Insurance, have brought European insurance sector deal values to record highs. Regulatory...more
The FCA has announced that it plans to consult further on the scope of the Client Dealing Function under the SMCR. Key Points: ..The FCA acknowledges that the scope of the Client Dealing Function needs to be clarified,...more
The U.K. Financial Conduct Authority and Prudential Regulation Authority have published Policy Statements confirming the near-final and final rule changes they will apply to extend the application of the Senior Managers &...more
The Hogan Lovells’ Corporate Insurance Newsletter for February has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. ...more
On March 7, 2017, it will be one year since the U.K. Financial Conduct Authority's senior managers and certification regime came into force, heralding a new era of personal accountability in the financial sector. A...more