Recent EU and UK Insurance Regulatory Developments

5 October 2022
View Debevoise In Depth
Key Takeaways:
  • The UK Parliament has introduced the Financial Services and Markets Bill, which proposes to, among other things, introduce a secondary competitiveness objective for the UK regulators. This follows HM Treasury’s earlier consultation on Solvency II reforms in the United Kingdom.
  • The UK PRA recently proposed changes to its approach to regulation of third-country branches following Brexit, which have a focus on reducing branches’ regulatory burden.
  • The FCA has produced updated rules on the Appointed Representatives Regime, which seek to prevent misconduct by Appointed Representatives.