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Showing 1 - 10 of 1025 matches filtered by 'PRA'

  • PRA: Statement on the delegated regulation changes published by EC

    20/11/2019
    In this statement PRA reminds firms that on 1 January 2020 the deferred part of the delegated regulation changes published by... the EC on 18 June 2019 will come into effect which may impact the calculation of the Solvency Capital Requirement.
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  • PRA: Solveny II: Maintenance of transitional measure of technical provisions

    14/11/2019
    The PRA have today published policy statement 25/19 which provides feedback to responses to consultation paper 11/19 on Solvency II: Maintenance... of transitional measure of technical provisions. The policy statement contains the final supervisory statement 6/16. The final policy aims to provide clarity on Solvency I and II methodologies and additional guidance for firms.
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  • PRA: Solvency II:Supervisory disclosures

    14/11/2019
    These supervisory disclosures include information regarding Solvency II Delegated Regulation, Implementing Regulation, guidelines and the PRA's supervisory approach.
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  • PRA: EIOPA recommendations for the insurance sector in the light of Brexit

    12/11/2019
    PRA has published a statement on the announcement by ACPR, the French regulatory authority, that it does not intend to comply... with EIOPA’s recommendation with regard to insurance policies originally sold in the UK by UK insurers to policyholders now resident/established in France. The statement notes that PRA and FCA are encouraging firms to seek legal advice and consider any risk arising from the ACPR approach to affected policyholders as soon as possible
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  • PRA: Feedback from recent PRA reserving reviews

    05/11/2019
    PRA has published the text of a “Dear Chief Actuary” letter sent to Chief Actuaries of its regulated GI firms. ... It sets out details of key issues emerging from PRA’s recent actuarial work. PRA warns that actuaries can expect the regulator “to challenge these areas where we see weaknesses within firms or inadequate justification”.
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  • PRA: Current areas of focus for GI firms

    05/11/2019
    PRA has published the text of a “Dear CEO” letter sent to CEOs of its regulated GI firms. This sets... out the regulator’s priorities for the sector and provides feedback from recent supervision activity. Specific areas covered include: reserving adequacy, governance and controls; underwriting conditions; exposure management and culture/controls.
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  • PRA: Reliability of regulatory returns

    01/11/2019
    PRA has published the text of a “Dear CEO” letter sent to PRA-regulated banks and building societies which emphasises that it... expects firms, if asked, to be able to respond promptly to requests with regard to how the design and operation of their governance, controls and other processes deliver regulatory reporting of appropriate quality and to provide details of any material regulatory reporting errors identified, along with details of remedial action. PRA intends to commission skilled person reports focusing on the common reporting framework and other related returns, noting that it expects the main focus of these reviews to be on the larger firms
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  • PRA: Regulatory digest

    01/11/2019
    PRA’s October 2019 digest has been published.
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  • ECB: Speech by Andrea Enria: The banking union – a personal view on its past, present and future

    31/10/2019
    Text of Andrea Enria’s speech of 30 October 2019 follows in which he discusses aspects of the banking union and Brexit.... He comments that both UK and EU banks are “well prepared for the post-Brexit world … As long as regulations in the United Kingdom and the EU fulfil the criteria of equivalence, business between the two areas will remain a significant feature of our financial markets”. He also states that ECB has “worked very well” with PRA and is “strongly committed to doing so in the future”.
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