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  • Insurance 2020: Operational Resilience to Recovery & Resolution - A paradigm shift in the regulation of financial stability

    Post Lehman, regulators all over the world introduced legislative measures to prevent banks being “too big to fail”. Now the regulatory net is being more widely cast across the financial services industry to ensure it remains operationally resilient in the face of deep and fast-moving change.
  • Insurance 2020: InsurTech and the future of retail insurance

    A key focus of the Open Banking initiative is the use of technology to put consumers in control of their data, making it easier for them to move, manage, and make more of their money. In the insurance sector it is easy to draw many parallels.  Like banks, many traditional insurers have extensive legacy systems, which can make digital transformation challenging, and hold or have access to vast data...
  • CJEU rules insurers liable for not informing life insurance policy holders of cancellation rights

    The European Court of Justice (CJEU) was recently asked to rule on the EU's Solvency II Directive (and all earlier legislations regulating life insurance) regarding the cancellation rights of insurance policyholders.
  • The world's most talked about number: LIBOR 2020

    LIBOR transition has been firmly highlighted as a key topic for 2020 with the Bank of England (the Bank), the Financial Conduct Authority (FCA) and the Working Group on Sterling Risk-Free Reference Rates (RFRWG) publishing a series of documents outlining priorities and milestones for the coming year, to ensure firms are preparing for the cessation of LIBOR from the end of 2021.
  • Brexit news for financial services firms - from 14 December 2019 to 5 January 2020

  • Insurance 2020: Keeping an eye on the competition

    Regulatory scrutiny of competition in the insurance sector is set to continue in 2020 with several investigations carrying over into this year. Consumer protection and fair pricing in retail general insurance and data sharing and anti-competitive information exchange across the wider sector remain focus areas for the competition authorities.
  • Insurance 2020: Year Ahead

    Welcome to Insurance 2020, our series of topical articles for the insurance market. Insurance 2020 pulls together key industry themes for the year ahead and will be delivered to your inbox throughout January and February.  Given the continuing uncertain global economic and political backdrop, 2020 promises to be another dynamic year for the insurance market. It will undoubtedly be a year of great change,...
  • FCA enforcement against PDMR

    In the first such action to be made fully public, the FCA has fined a managing director of a listed company £45,000 for failing to notify share trades in the listed company as required under the Market Abuse Regulation (MAR). The case is notable, not just for being the first ...
  • A new EU operational resilience framework for cyber security?

    Our recent RegZone article discussed the FCA, PRA and Bank of England consultations on improving financial stability in the UK markets through operational resilience. Continuing this theme, but now from the EU perspective, the EBA and EIOPA have published Guidelines to address increasing concern about the changing operational risks posed ...
  • European Commission consults on regulatory framework for cryptoassets

    On 19 December 2019, the European Commission (the Commission) published a consultation document seeking views on the EU regulatory framework for cryptoassets. Other topical areas discussed include the promotion of digital finance and blockchain, and the development of a relatively new subset of cryptoassets: stablecoins. Given that there is no ...