List of independent approved statutory auditors and approved audit firms having received less than 15% of the total audit fees from PIEs in Luxembourg in 2025
No description available.
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All Firms
Insurance & Pensions
Insurance company regulations, pension fund rules, and retirement product requirements.
Vacancies open for FCA Smaller Business Practitioner Panel
We’re inviting applications from senior practitioners at smaller regulated firms in the general insurance and consumer credit sectors to join the panel. The Smaller Business Practitioner Panel provides independent advice and challenge from the perspective of smaller firms, helping to shape our work at a time of significant change in UK financial services regulation.Its key remit is to provide input to the FCA from the industry to help us meet our strategic and operational objectives from a sm...
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InsuranceAll Firms
Frank Elderson: A central banker’s perspective on climate change and nature degradation
No description available.
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Topics:
BankInsuranceAsset Manager
CSSF Newsletter No 304 – May 2026
No description available.
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All Firms
PS13/26 – Insurance third-country branches: policy implementation and other updates
Policy statement 13/26
AI Analysis
The PRA’s Policy Statement PS13/26 finalises the CP20/25 proposals on UK branches of third‑country (re)insurers, including raising the subsidiarisation threshold, embedding existing reporting and investment waivers into the Rulebook, and updating supervisory expectations on ORSA and resolution. Compliance teams at third‑country branches must now recalibrate threshold monitoring, overhaul reporting processes, and update governance and documentation to align with the revised Third Country Branches and Reporting Parts of the PRA Rulebook, updated SSs, and new Statements of Policy. ---
AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.
Sectors:
Topics:
InsuranceBank
ASIC sues Equity Trustees alleging First Guardian onboarding failures
ASIC sues Equity Trustees alleging First Guardian onboarding failures
Sectors:
Topics:
Asset ManagerWealth Manager
Young drivers warned about fake insurance sold on social media
Half (49%) of young drivers have bought insurance through social media or messaging apps, new research reveals. With 4 in 10 (39%) unconfident in spotting the signs of a fake policy, thousands could be paying for cover that doesn’t exist. The FCA is warning 17-to 25-year-old drivers about 'ghost broking' scams where criminals sell bogus insurance policies through social media and messaging platforms.Ghost brokers pose as legitimate insurance sellers but offer cheap rates. The policies they se...
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Insurance
Publication,FSA Weekly Review No.687 May 19, 2026
No description available.
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All Firms
ASIC sets financial reporting, audit and sustainability focus areas for FY 2026–27
ASIC sets financial reporting, audit and sustainability focus areas for FY 2026–27
Sectors:
Topics:
Asset ManagerBroker DealerAll Firms
FCA, Bank of England and Treasury joint statement on frontier AI models and cyber resilience
Why frontier AI matters for firmsArtificial intelligence (AI) continues to evolve rapidly. Frontier AI models represent a step-change in capability, with significant implications for cyber security and operational resilience.The cyber capabilities of current frontier AI models are already exceeding what a skilled practitioner could achieve, and at a significantly higher speed, greater scale, and lower cost. These capabilities, if used maliciously, amplify cyber threats to firms’ safety and so...
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Bank
Aviva Life & Pensions Ireland DAC (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm
Aviva Life & Pensions Ireland DAC (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Bank
FCA reviews whether investment firms are doing enough to support bereaved customers
The FCA is reviewing how consumer investment firms support bereaved customers and whether they're getting it right. Fewer than half of bereaved customers (47%) felt they received the support they needed from financial firms, according to research (PDF).What the FCA is looking atThe review will focus on firms that advise, manage, or administer investments - including platforms, advisers and wealth managers. The FCA will examine the experience customers have from the moment the firm is told abo...
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Wealth Manager
FCA fines and bans Frank Breuer for serious misconduct in pension transfer advice
The FCA has banned Frank Breuer from working in UK financial services and fined him £755,000 for repeatedly acting without integrity and putting customers at risk for personal financial gain. Mr Breuer was the joint owner and sole director of Bluesky Wealth Management Limited (Bluesky), which provided advice on investments and pensions. Although authorised to advise on defined benefit (DB) pension transfers, the firm did not have the appropriate professional insurance in place from April 2019...
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Wealth ManagerCrypto ExchangeInsurance
Written reply to Parliamentary Question on updating insurance coverage to include medical advances
Written reply to Parliamentary Question on updating insurance coverage to include medical advances
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Insurance
FCA to review claims management practices
We are launching a review of the claims management market, following concerns that consumers are being failed by some claims management companies (CMCs) and law firms. The review will look at the root causes of poor practices across the market, like aggressive marketing, misleading advertising and unfair exit fees. Other concerns include consumers being signed up without their consent - without clear, upfront explanations of the implications of signing up or ticking a box, for example on soci...
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All Firms
Prudential Regulation Authority’s statement in relation to HM Treasury’s Risk Transformation Regulations consultation response – April 2026
The PRA has committed to consulting on a new insurance captives regime in Summer 2026.
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Topics:
Insurance
PRA publishes plans to support resilience in the life insurance industry
Funded reinsurance transactions involving UK life insurers will face enhanced regulatory requirements under new proposals unveiled today by the Prudential Regulation Authority (PRA).
Sectors:
Topics:
Insurance
CP8/26 – Funded reinsurance
Consultation paper 8/26
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Topics:
Insurance
Adgm Fsra Implements Enhancements To The Regulatory Framework For Insurance And Introduces Climate Related Financial Risk Management Requirements
Adgm Fsra Implements Enhancements To The Regulatory Framework For Insurance And Introduces Climate Related Financial Risk Management Requirements
Sectors:
Topics:
Insurance
Joint Committee annual report highlights digitalisation, cyber resilience and sustainable finance as key priorities of 2025
Joint Committee annual report highlights digitalisation, cyber resilience and sustainable finance as key priorities of 2025 24 April 2026 Joint Committee The Joint Committee of the European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) today published its Annual Report for 2025 , setting out the main priorities and achievements of its cross-sectoral work over the past year. In 2025, the Joint Committee focused on protecting consumers in increasingly digital financial markets, stren...
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Topics:
Fintech
FCA publishes findings from financial adviser market survey
We have published findings from our Financial Adviser Survey. The findings provide an updated picture of how the UK financial advice market is evolving and what this means for firms, consumers and future growth. The survey brings together responses from more than 4,100 financial advice firms; alongside analysis of data we already hold on around 31,000 advisers.Overall, it shows a market that remains broadly stable and continues to support millions of clients, even as firms adapt to consolidat...
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All Firms
CP7/26 – Regulated fees and levies: Rates proposals 2026/27
Consultation paper 7/26
AI Analysis
The PRA's CP7/26 consultation proposes fee rates and amendments to the Fees Part of the PRA Rulebook for 2026/27 to meet a Total Funding Requirement (TFR) of £346.6 million, down 1% from 2025/26, primarily funding Ongoing Regulatory Activities (ORA) at £329.3 million. This matters for PRA-authorised firms as it involves adjusted periodic fees across blocks, increased allocations for initiatives like Future Banking Data, and other targeted fees, requiring budget planning and potential consultation responses.
AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.
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BankInsuranceAll Firms
Prudential Regulation Authority Business Plan 2026/27
The 2026/27 Business Plan sets out the workplan for each of our strategic priorities and our strategy to advance our primary and secondary objectives. This year’s business plan confirms the PRA’s continued focus on safety and soundness and policyholder protection, alongside a proportionate and efficient approach to regulation.
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BankInsurance
FCA takes next steps toward enforcement action against Hartley Pensions and an individual
The FCA has set out plans to take action against Hartley Pensions Limited and an individual involved at the firm. Hartley was a Self-Invested Personal Pension operator, which went into administration in July 2022. The FCA alleges that Hartley provided it with false and misleading information and improperly withdrew and invested substantial amounts of customers’ pension funds, without their consent, to benefit an individual at the firm.The FCA alleges that the individual dishonestly used the p...
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Asset ManagerWealth Manager
General Announcements
General Announcements
Sectors:
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BankAsset ManagerInsurance
Procurement Tender
Procurement Tender
Sectors:
Topics:
BankAsset ManagerInsurance
International,Interview Article "Supervisory cooperation in a fragmented world: The IAIS work agenda" in The Eurofi Magazine (March 2026)
No description available.
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Insurance
Publication,FSA Weekly Review No.682 April 7, 2026
No description available.
Sectors:
Topics:
BankAsset ManagerCrypto Exchange
Securities,Publication of the Research Report, “Strengthening the Management of Third-Party Cybersecurity Risks by Financial Institutions”
No description available.
Sectors:
Topics:
BankAsset ManagerInsurance
Law of 17 April 2018 (consolidated version) (being updated) (Updated)
on key information documents for packaged retail and insurance-based investment products
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Asset ManagerBankInsurance
Law of 13 July 2005 (consolidated version) (being updated) (Updated)
on institutions for occupational retirement provision in the form of SEPCAVs and ASSEPs
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Asset ManagerBankInsurance
Indefinite Prohibition issued to Nicholas (Nick) Buckley in respect of all controlled functions, effective from 25 February 2026
The Prohibition Notice (PDF) issued after Mr Buckley signed a Statement of Undisputed Facts, in which he accepted that between 1 February 2021 and 12 December 2023, while he was employed at two different retail intermediaries, he issued invoices to clients directing payment to his personal bank account in place of his employers’ bank details. Mr Buckley also accepted that he misrepresented his financial qualifications to clients during the course of his employment. The Prohibition Notice issu...
AI Analysis
The Central Bank of Ireland (CBI) has issued an indefinite prohibition to Nicholas (Nick) Buckley from all controlled functions, effective 25 February 2026, following his admission of diverting client payments to his personal account and misrepresenting financial qualifications while at two retail intermediaries from 1 February 2021 to 12 December 2023. This enforcement action underscores the CBI's commitment to the Fitness and Probity Regime, emphasizing integrity in customer-facing roles to maintain public trust. Compliance professionals should note it as a precedent for severe sanctions on dishonesty, potentially influencing vetting and monitoring practices.
AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.
Effective Date: 25 February 2026
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Wealth ManagerBroker DealerAll Firms
PS8/26 – Financial Services Compensation Scheme – Management Expenses Levy Limit (MELL) 2026/27
Policy statement 8/26
AI Analysis
The PRA has finalized the Financial Services Compensation Scheme (FSCS) Management Expenses Levy Limit (MELL) for 2026/27 at £113 million, effective April 1, 2026. This policy statement confirms the proposed budget following consultation, establishing the maximum amount that FSCS-levy-paying firms must fund for the compensation scheme's operating costs, with implications for all PRA and FCA-authorized firms across banking, insurance, and investment sectors.
AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.
Sectors:
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BankInsuranceAsset Manager
Delivering on the Insurer’s Promise - Keynote speech by Mr Marcus Lim, Assistant Managing Director, Monetary Authority of Singapore, at the Life Insurance Association, Singapore (LIA) Annual Luncheon on 30 March 2026
At the Life Insurance Association, Singapore (LIA) Annual Luncheon on 30 March 2026, Mr Marcus Lim, Assistant Managing Director, Monetary Authority of Singapore, delivered a keynote speech highlighting three key roles played by insurers.
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Insurance
ESAs spring risk update highlights geopolitical pressures and rising private finance risks
ESAs spring risk update highlights geopolitical pressures and rising private finance risks 27 March 2026 Joint Committee Risk monitoring The European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) today published their spring 2026 Joint Committee update on risks and vulnerabilities in the EU financial system. The update focuses on the challenges arising from ongoing geopolitical tensions and developments in private finance. Geopolitical tensions continue to pose significant risks Th...
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BankAsset ManagerInsurance
FCA responds to Complaint Commissioner’s report on the British Steel Pension Scheme
We sympathise with former members of the British Steel Pension Scheme (BSPS) who lost money after they were given unsuitable advice from people they trusted. Complaints are a valuable source of feedback which help us improve and learn. There have also been 4 independent reports into the BSPS since 2018, which have helped us learn lessons. We have accepted several of their recommendations and implemented improvements, including those below.We now have much closer collaboration between the FCA,...
AI Analysis
The FCA's response to the Complaint Commissioner's report on the British Steel Pension Scheme addresses systemic failures in pension transfer advice that affected approximately 7,700 members, with 47% receiving unsuitable advice. This statement demonstrates the FCA's acknowledgment of regulatory shortcomings and outlines remedial measures implemented to prevent similar harm, including enhanced inter-agency collaboration, stricter product governance rules, and a £106 million redress scheme now benefiting 1,870 affected members.
AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.
Sectors:
Topics:
Wealth ManagerAsset ManagerAll Firms
Remarks by Deputy Governor Colm Kincaid to Central Bank of Ireland’s Consumer Protection Workshop – Consumer Protection at the Heart of Our Mission
Good afternoon and welcome to this Central Bank of Ireland workshop on the Consumer Protection Code. Today I will focus on the outlook for consumers and investors. But first let me pause to talk a little about the broader context in which we find ourselves. We are living through a period marked by extraordinary change, geopolitical instability, rapid technological transformation and shifting economic conditions. Governor Makhlouf summarised this well when he said how 2026 has already seen ext...
AI Analysis
Deputy Governor Colm Kincaid's speech on 24 March 2026 emphasizes consumer protection as central to the Central Bank of Ireland's (CBI) mission amid geopolitical, technological, and economic changes, highlighting the revised **Consumer Protection Code 2025** (CPC 2025) as a key modernization effort. This matters for compliance professionals because the CPC 2025 introduces enhanced, digitally-focused protections effective **24 March 2026**, replacing the 2012 Code after a 12-month implementation period, with firms required to proactively secure customer interests.
AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.
Sectors:
Topics:
BankInsurancePayment Provider
Timing of the FCA's motor finance announcement
We will set out our approach on motor finance redress shortly after markets close on Monday 30 March, having consulted on a compensation scheme in October 2025.
AI Analysis
The FCA is scheduling its announcement on a proposed motor finance redress scheme—addressing historical commission disclosure failures in car loans—for shortly after markets close on Monday, 30 March 2026, following a consultation launched in October 2025. This matters because it signals imminent final rules that could impose up to GBP11 billion in costs on lenders, affecting millions of consumers and requiring urgent operational preparations to ensure timely payouts in 2026.
AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.
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BankPayment ProviderAll Firms
How the Consumer Protection Code Secures Your Interests
The Central Bank of Ireland today (Tuesday 24 March 2026) marked the coming into force of the modernised Consumer Protection Code, giving consumers stronger protections when using banks, insurance companies, and other financial services. The modernised Code has been designed to better protect consumers in today’s world, and in anticipation of how financial services will evolve into the future. It follows extensive public consultation and engagement. Deputy Governor Colm Kincaid said: "The Cen...
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BankInsuranceAll Firms
Patrick Montagner: Physical risks and the role of insurance in risk mitigation
No description available.
Sectors:
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BankInsurance
Superintendent Peter Routledge participates in National Bank Annual Conference 2026 fireside chat
Superintendent Peter Routledge participates in National Bank Annual Conference 2026 fireside chat
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BankInsurance
Publication,FSA Weekly Review No.680 March 23, 2026
No description available.
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Topics:
BankAsset ManagerInsurance
How technology is changing the pensions conversation
Speech by Nikhil Rathi, FCA chief executive, at the JP Morgan Pensions and Savings Symposium 2026. Last year, I spoke about the importance of getting on the right track.That if we want better consumer outcomes – as well as stronger capital markets to support growth – we need to think beyond individual products and look at the whole financial journey.How pensions interact with housing wealth…How savings interact with advice…And how all these decisions evolve across a lifetime.Over the past yea...
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Asset ManagerBankWealth Manager
Federal Court declares Macquarie contravened the Corporations Act in relation to Shield Master Fund
Federal Court declares Macquarie contravened the Corporations Act in relation to Shield Master Fund
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Topics:
Asset ManagerWealth ManagerBank
International,The Japan-Bermuda bilateral meeting on insurance
No description available.
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Topics:
Insurance
PS7/26 – Operational resilience: Operational incident and third-party reporting
Policy statement 7/26
AI Analysis
PS7/26 finalizes PRA rules for standardized reporting of operational incidents and material third-party (MTP) arrangements, responding to CP17/24 consultation feedback by reducing firm burden through simplified templates and exclusions. This matters for compliance professionals as it enhances PRA oversight of operational resilience risks amid rising threats and third-party reliance, aligning with international standards like DORA and FSB FIRE while supporting identification of critical third parties (CTPs).
AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.
Sectors:
Topics:
BankInsuranceAll Firms
SS1/26 – Operational resilience: Incident reporting
Supervisory statement 1/26
AI Analysis
SS1/26 outlines the PRA's expectations for firms to report operational incidents via a structured three-phase process (initial, intermediate, final) as mandated in the PRA Rulebook's Regulatory Reporting Part, Chapter 24, to enhance UK financial sector resilience by capturing incidents risking firm safety, policyholder protection, or stability. This matters because it standardizes reporting, enabling timely PRA oversight and reducing inconsistencies in incident data collection across regulated entities.
AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.
Sectors:
Topics:
BankInsuranceAll Firms
PRA publishes liquidity reform proposals
The Prudential Regulation Authority has today published proposals aimed at ensuring banks can monetise liquid assets quickly in a fast-paced stress event – such as the collapse of Silicon Valley Bank in 2023.
AI Analysis
The PRA has launched a three-month consultation on modernized liquidity standards designed to ensure banks can rapidly convert liquid assets to cash during stress events, responding directly to lessons from the 2023 collapses of Silicon Valley Bank and Credit Suisse. Rather than requiring banks to hold more liquid assets, the reforms focus on **operationalizing existing liquidity** through enhanced stress testing, removal of exemptions for sovereign bonds, and improved preparedness for central bank facility access.
AI-generated analysis. May contain errors or omissions — verify with the original BoE source before acting. Full disclaimer.
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BankAsset ManagerInsurance
ID 05/26 Issuance of Revised Notice 133 and Notice FHC-N133
Informs insurers on the amendments of Notice 133 and Notice FHC-N133 to include the proposed introduction of equity counter-cyclical adjustment (CCA), and the capital treatment for structured products and infrastructure investments, amongst others.
AI Analysis
MAS has issued revised Notice 133 and Notice FHC-N133 effective immediately (16 March 2026), introducing **equity counter-cyclical adjustment (CCA)** and new capital treatment rules for **structured products and infrastructure investments**. This represents a material enhancement to Singapore's risk-based capital (RBC 2) framework for all licensed insurers and designated financial holding companies with insurance operations, requiring immediate compliance assessment and system updates.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
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Topics:
Insurance
PRA fines U K Insurance Limited £10,625,000
The Prudential Regulation Authority (PRA) has imposed a financial penalty of £10,625,000 on U K Insurance Limited (UKI Limited) in connection with a miscalculation of their Solvency II balance sheet during 2023 and 2024.
AI Analysis
The PRA fined U K Insurance Limited (UKI Limited) £10.625 million (reduced from £21.25 million via 50% Early Account Scheme discount) for breaching Solvency II reporting rules due to a miscalculation overstating its solvency balance sheet in 2023-2024, stemming from ineffective controls and resourcing in finance/actuarial functions. This landmark case highlights PRA's emphasis on accurate prudential reporting and rewards early self-reporting/cooperation, signaling heightened enforcement scrutiny on insurers' control frameworks. It matters as it demonstrates PRA's use of the EAS for efficiency and underscores risks of control failures undermining supervisory effectiveness.
AI-generated analysis. May contain errors or omissions — verify with the original BoE source before acting. Full disclaimer.
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InsuranceAll Firms
“Regulating with purpose – outcomes-focused regulation and supervision, a practitioner’s perspective” – Remarks by Deputy Governor McMunn at Outcomes-focused Regulation in Financial Services conference, University College Dublin (UCD)
Good morning everyone, I am delighted to be here for what looks set to be an interesting conference on a topic which is both very close to my heart and central to what we do at Central Bank of Ireland (“the Central Bank”) – as we work to deliver on our mission, and in particular ensuring the financial system is operating in the best interests of consumers and the wider economy. 1 I am particularly delighted to be back in UCD – where I had the pleasure to study economics as an undergraduate, w...
AI Analysis
This speech by Deputy Governor Mary Elizabeth McMunn outlines the Central Bank of Ireland's (CBI) shift toward **outcomes-focused regulation and supervision**, emphasizing five key priorities from the 2026 Regulatory and Supervisory Outlook (RSO) to address geopolitical risks, consumer protection, technology, and resilience in a volatile environment. It matters for compliance professionals as it signals intensified CBI scrutiny on firm behaviors and outcomes rather than mere rule compliance, with direct implications for supervisory engagements, thematic reviews, and enforcement across banking, funds, insurance, and payments sectors.
AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.
Sectors:
Topics:
BankAsset ManagerInsurance
FCA announces senior leadership appointments
We have appointed 2 new senior leaders, further strengthening our capability across key areas of our remit. Chris Knight will join us in July 2026 as director of insurance within our Supervision, Policy and Competition (SPC) division. He joins the FCA from Legal & General, where he has been the group chief risk officer for the last 5 years and member of the Group management committee. Prior to this, he was CEO of Legal & General Retail Retirement for 3 years.David Lymburn joined the Payment S...
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Topics:
BankInsurance
Regulators launch GenA.I. Sandbox++ to foster A.I. innovation across financial services
No description available.
Sectors:
Topics:
BankAsset ManagerFintech
MAS Sets Supervisory Expectations on Financial Institutions for Transition Planning Practices in addressing Environmental Risk
MAS today issued three Guidelines on Environmental Risk Management - Transition Planning to separately set out MAS’ supervisory expectations for banks, insurers and asset managers to manage the transition and physical risks they and their portfolios face from climate change.
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BankAsset ManagerInsurance
ID 04/26 Issuance of Guidelines on Transition Planning (Insurers)
Inform insurers of the publication of an addendum on transition planning to the Guidelines on Environmental Risk Management, which sets out more detailed supervisory expectations for insurers to manage the transition and physical risks they face from climate change as part of a sound transition planning process.
AI Analysis
The Monetary Authority of Singapore (MAS) has issued an addendum on **transition planning** to its Guidelines on Environmental Risk Management, outlining detailed supervisory expectations for insurers to address **climate transition and physical risks** through robust processes. This matters for compliance professionals as it mandates integration of climate risks into insurers' strategies, enhancing resilience amid global net-zero transitions and potential supervisory scrutiny. Effective immediately as of 05 March 2026, it builds on prior consultations to promote customer and investee decarbonization without indiscriminate divestment.[https://www.mas.gov.sg/regulation/circulars/id04_26]
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
Sectors:
Topics:
Insurance
PRA Regulatory Digest – February 2026
The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.
Sectors:
Topics:
BankInsurance
Prudential Regulation Authority statement on the life insurance stress test in 2028
This statement provides an early indication to industry of the Prudential Regulation Authority’s (PRA) intent to launch the next Life Insurance Stress Test (LIST) exercise in January 2028.
Sectors:
Topics:
Insurance
ASIC sues Auto & General alleging policy discount misrepresentations made to millions of consumers in Budget Direct insurance ads
ASIC sues Auto & General alleging policy discount misrepresentations made to millions of consumers in Budget Direct insurance ads
Sectors:
Topics:
Insurance
Central Bank sets out its regulatory and supervisory priorities against the backdrop of geoeconomic shifts and accelerating technological changes that are reshaping the financial system
The Central Bank has today published its Regulatory & Supervisory Outlook 2026 , which sets out its latest assessment of the risk landscape facing the financial sector and the supervisory work it will undertake in response. This follows on from the Governor’s letter to the Tánaiste on the economic outlook and regulatory priorities in January . This is the third year of the report, which continues to be set against a backdrop of a changing, uncertain and increasingly complex external environme...
AI Analysis
The Central Bank of Ireland (CBI) has published its **Regulatory & Supervisory Outlook 2026**, outlining priorities shaped by geoeconomic fragmentation, technological acceleration, and elevated risks like operational resilience, cyber threats, data/AI, and consumer protection. This matters for compliance professionals as it signals intensified supervisory scrutiny, including desktop and onsite inspections, across Ireland's financial sector to ensure resilience and adaptability amid uncertainties.[https://www.centralbank.ie/news/article/press-release-central-bank-sets-out-its-regulatory-and-supervisory-priorities-26-february-2026][https://www.ogier.com/news-and-insights/insights/regulatory-outlook-2026-the-central-bank-of-ireland-s-priorities-explained/]
AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.
Sectors:
Topics:
BankAsset ManagerAll Firms
Reply to COS Cuts on Adequate Provision of ATMs and VTMs, Mandating the Acceptance of Cash, Sustainability of EQDP and Insurance for Persons with Disabilities
Reply at Committee of Supply 2026 on Adequate Provision of ATMs and VTMs, Mandating the Acceptance of Cash, Sustainability of EQDP and Insurance for Persons with Disabilities
Sectors:
Topics:
BankWealth ManagerInsurance
CP4/26 – UK Solvency II Own Funds: Updates and fixes to rules and expectations
Consultation paper 4/26
AI Analysis
CP4/26 proposes targeted amendments to UK Solvency II own funds rules in the PRA Rulebook, addressing inconsistencies, clarifying requirements, and restating EU guidelines for better accessibility. These updates matter as they reduce regulatory burden, enhance clarity, and align rules with market practices, supporting PRA objectives of firm safety, policyholder protection, and competitiveness without introducing new risks.
AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.
Sectors:
Topics:
Insurance
Press Conferences,Press Conference by KATAYAMA Satsuki, Minister of State for Financial Services (February 10, 2026)
No description available.
Sectors:
Topics:
Insurance
A smarter approach to communicating our regulatory priorities
We've launched our new Regulatory Priorities reports, starting with the insurance sector. This marks a new approach that will help to transform our supervision and streamline regulation.We expect regulated firms to follow the rules and stay informed about any changes. This is important for maintaining a safe and resilient market. Our mission to be a smarter regulator means reducing burden where we can, so that firms can get the information they need as efficiently as possible.Our Regulatory P...
Sectors:
Topics:
Insurance
ESMA supports the simplified European Sustainability Reporting Standards and suggests targeted adjustments
ESMA supports the simplified European Sustainability Reporting Standards and suggests targeted adjustments 18 February 2026 Issuer disclosure Press Releases Sustainable finance The European Securities and Markets Authority, the EU’s financial markets regulator and supervisor, has delivered its opinion on the draft revised European Sustainability Reporting Standards (ESRS) developed by EFRAG. ESMA strongly supports the European Commission’s goal of enhancing competitiveness and growth through ...
AI Analysis
ESMA has issued an opinion supporting EFRAG's draft simplified European Sustainability Reporting Standards (ESRS) under the CSRD, praising improvements in readability and materiality focus while recommending targeted adjustments to enhance investor protection and financial stability. This matters for compliance professionals as it signals upcoming refinements to sustainability disclosures, with pragmatic supervision promised during the transition, potentially reducing short-term burdens but requiring monitoring of final delegated act adoption by summer 2026.
AI-generated analysis. May contain errors or omissions — verify with the original ESMA source before acting. Full disclaimer.
Sectors:
Topics:
Asset ManagerBankInsurance
Tribunal upholds bans and fines for reckless adviser and fund manager
The Upper Tribunal has upheld the FCA's decisions to ban Stephen Joseph Burdett and James Paul Goodchild from working in financial services. Mr Burdett and Mr Goodchild previously held senior roles at Synergy Wealth Limited (Synergy) and Westbury Private Clients LLP (Westbury), respectively.The FCA banned the pair from working in regulated financial services for recklessly exposing pension holders to unsuitable investments.The Tribunal also found that it was appropriate for the FCA to impose ...
Sectors:
Topics:
Asset ManagerWealth ManagerBank
CP2/26 – Reforms to securitisation requirements
Consultation paper 2/26
AI Analysis
CP2/26 is a PRA consultation paper proposing targeted reforms to UK securitisation rules to reduce prescriptiveness and burden while maintaining prudential soundness, building on recent CRR restatements. It matters for compliance professionals as it streamlines due diligence, risk retention, disclosures, and capital treatments, potentially lowering costs for PRA-authorised firms in the securitisation market amid Basel 3.1 implementation. These changes aim to enhance proportionality without compromising investor protection or oversight.
AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.
Sectors:
Topics:
BankInsuranceAll Firms
Summary of AI roundtables - February 2026
The Bank of England held roundtable meetings with representatives from regulated firms on the responsible adoption of artificial intelligence and machine learning (AI and ML), to better understand the constraints that firms may be facing.
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Topics:
BankAsset ManagerInsurance
Written reply to Parliamentary Question on Insurance Products Distribution through E-commerce Platforms
Written reply to Parliamentary Question on Insurance Products Distribution through E-commerce Platforms
Sectors:
Topics:
InsuranceAll Firms
Measure, Model, Tackle, Tailor: The Bank of England’s approach to assessing and managing climate impacts across its core objectives - speech by James Talbot
Given at the London School of Economics
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Topics:
BankInsuranceAll Firms
Reinforcing Resilience, Responding to Change: Priorities for the Year Ahead - Speech by Governor Gabriel Makhlouf to Head of EU Missions
I would like to welcome you all to the Central Bank of Ireland today 1 . We are delighted to host this gathering of EU Heads of Missions, representatives of our friends and partners from across the EU. A little over a year ago I had the pleasure to meet with you all. I spoke then of a geopolitical landscape facing significant strain and complexity; of the rise of economic nationalism and trade disputes; as well as the shift from cooperation to competition, and its impact on our ability to mee...
AI Analysis
This speech by Central Bank of Ireland (CBI) Governor Gabriel Makhlouf outlines priorities for building economic and financial resilience amid geopolitical risks, climate change, technological shifts, and geoeconomic fragmentation, emphasizing domestic policy focus areas like infrastructure, indigenous business growth, and fiscal buffers. It matters for compliance professionals as it previews CBI's forthcoming 2026 regulatory and supervisory priorities, signaling heightened scrutiny on operational and financial resilience, consumer protection, and alignment with a transforming regulatory framework. https://www.centralbank.ie/news/article/speech-governor-makhlouf-head-eu-missions-10-February-2026
AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.
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BankAsset ManagerInsurance
Press Conferences,Press Conference by KATAYAMA Satsuki, Minister of State for Financial Services (February 3, 2026)
No description available.
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Insurance
Regulated People and Entities
Regulated People and Entities
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BankAsset ManagerInsurance
Curatorships
Curatorships
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Asset ManagerWealth ManagerBank
Language Policy and Services
Language Policy and Services
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BankAsset ManagerInsurance
Financial Services Tribunal
Financial Services Tribunal
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BankAsset ManagerInsurance
Trustee Toolkit
Trustee Toolkit
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Insurance
Supervisory Information
Supervisory Information
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BankAsset ManagerInsurance
Submit an enquiry or complaint
Submit an enquiry or complaint
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All Firms
Others,Updated English version of Reference Cases on Suspicious Transactions
No description available.
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BankInsuranceAll Firms
FCA and SRA joint message to professional representatives on motor finance commission claims: dealing with multiple representation and excessive termination fees
The FCA and Solicitors Regulation Authority (SRA) are warning claims management companies and law firms (representatives) involved in motor finance claims to make sure clients don’t have multiple representatives for the same claim and are not charged excessive termination fees We have seen some clients with up to 4 different representatives for the same claim. They risk being charged termination fees, which could be deemed excessive, should they try to cancel duplicate agreements.
AI Analysis
The FCA and SRA have issued a joint warning to claims management companies (CMCs) and law firms handling motor finance commission claims, addressing multiple client representations (up to 4 per claim observed) and excessive termination fees, which risk unfair consumer treatment. This matters because regulators are intensifying scrutiny amid a paused complaints-handling period (ending May 2026) and a forthcoming redress scheme, with enforcement actions already underway against non-compliant firms.
AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.
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Payment ProviderAll Firms
Oral reply to Parliamentary Question on disputes related to health insurance claims
Oral reply to Parliamentary Question on disputes related to health insurance claims.
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InsuranceAll Firms
Superintendent Routledge participates in a fireside chat at the 2026 CatIQ conference
Superintendent Routledge participates in a fireside chat at the 2026 CatIQ conference
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BankInsurance
Insurance in the round: Innovation, growth and trust
Speech by Sarah Pritchard, FCA deputy chief executive, at the ABI Annual Conference. IntroductionIt’s hard to think of a more symbolic venue to discuss driving change in the insurance sector than the QEII Centre.Step outside, and you’re in the shadow of both the Houses of Parliament, and Westminster Abbey. Scrutiny, change and serving citizens on one side. Tradition on the other.That’s where insurance sits, too.As an industry, you have to balance the new with the non-negotiables – finding way...
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Insurance
Patrick Montagner: Interview with l’Agefi
No description available.
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BankAsset ManagerInsurance
Falling cost of premium finance saving consumers around £157m a year
People who pay monthly for their insurance are saving around £157m a year, with over half the firms the FCA reviewed as part of a market study lowering the cost of premium finance. Interest rates for premium finance have fallen by an average 4.1 percentage points since 2022, saving consumers £8 on a typical motor policy and £3 on a typical home policy per year. The changes result from regulatory attention, fair value assessments and base rate reductions. The FCA has seen even more significant...
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InsuranceAll Firms
What do we mean when we say 'fair value'?
What does 'fair value' mean in financial services? It might sound like dry regulator speak, but it’s really asking a simple question – are customers paying a reasonable price for a product, compared to the benefits they get in return?This is not us setting a particular price or level of profit which firms can make. But it's a challenge to firms – can they provide evidence that their customers are getting a fair deal? If they can’t, then they need to look again.This applies across financial se...
AI Analysis
This FCA blog post clarifies the 'fair value' concept under Consumer Duty, emphasizing that firms must evidence a reasonable price-to-benefits relationship without the FCA dictating prices or profits. It matters because it signals ongoing FCA scrutiny and enforcement in sectors like cash savings, investment platforms, and premium finance, with demonstrated consumer savings of £167m annually from interventions. Compliance professionals must prioritize robust fair value assessments to avoid challenges, remedial actions, or enforcement.
AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.
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BankInsuranceAll Firms
PRA Regulatory Digest - January 2026
The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.
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BankInsurance
The DFSA fines reinsurance broker USD 455,176 for engaging in misleading and…
The DFSA fines reinsurance broker USD 455,176 for engaging in misleading and…
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Broker DealerInsurance
Others,Stewardship Code: List of institutional investors accepted the Principles for Responsible Institutional Investors as of December 31, 2025
No description available.
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Asset ManagerInsuranceBank
Artificial intelligence: BaFin publishes guidance on ICT risks
The Federal Financial Supervisory Authority (BaFin) has issued its “Guidance on ICT Risks in the Use of Artificial Intelligence at Financial Entities”. The guidance will help entities manage ICT risks in accordance with the requirements under DORA.
AI Analysis
BaFin's "Guidance on ICT Risks in the Use of Artificial Intelligence at Financial Entities," published December 18, 2025, provides non-mandatory advice to help financial entities manage ICT risks from AI under DORA across the AI lifecycle. It matters because it integrates AI explicitly into existing ICT risk frameworks, emphasizing security, resilience, and third-party risks for supervised institutions, aligning with RTS on ICT risk management (EU 2024/1774) and subcontracting (EU 2025/532). This clarifies supervisory expectations amid growing AI adoption in finance, reducing ambiguity in DORA compliance.
AI-generated analysis. May contain errors or omissions — verify with the original BaFin source before acting. Full disclaimer.
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BankInsuranceAll Firms
FCA seeks views on how to help close the protection gap
The FCA has called on the insurance industry to help more consumers access products that support them and their families if they become critically ill or die. The interim findings of its competition review of pure protection products found that, for those consumers that have taken out protection insurance, the market mostly works well. There are a wide range of products, most consumers can claim when they need to, and the costs of cover have remained stable in the last few years.But 58% of ad...
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Insurance
Equity-Indexed Annuities
Equity-Indexed Annuities
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Broker DealerWealth ManagerAsset Manager
Deferred Annuities
Deferred Annuities
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Broker DealerAsset ManagerWealth Manager
PS25/19: Improving the complaints reporting process
Consultation papers
AI Analysis
FCA PS25/19 finalizes rules to streamline complaints reporting by replacing multiple existing returns with a single consolidated return, enhancing data quality, consistency, and vulnerability identification while reducing burdens. This matters for compliance teams as it mandates system and process updates to improve regulatory oversight and consumer protection, with implementation required within 12 months.
AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.
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BankInsurancePayment Provider
Statement of Policy on statutory investigations into regulatory failure and producing reports [PDF]
Policy and guidance
AI Analysis
The FCA's updated Statement of Policy outlines its approach to statutory investigations into possible regulatory failures under Part 5 of the Financial Services Act 2012, including criteria for triggering investigations and producing reports for HM Treasury. It matters because it clarifies when the FCA must self-scrutinize serious lapses in regulation, helping firms anticipate rare but high-profile probes into systemic issues affecting consumer protection, market integrity, or competition. The primary update adjusts inflation-linked monetary thresholds for assessing "significant" consumer detriment, ensuring the policy remains relevant.
AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.
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Asset ManagerBankInsurance
PS25/22: Supporting consumers’ pensions and investment decisions: rules for targeted support
Policy statements
AI Analysis
The FCA's PS25/22 establishes a new regulatory framework for **targeted support**—a form of financial guidance that allows authorised firms to provide ready-made suggestions to consumer segments without conducting individualised suitability assessments. This framework addresses the UK's "advice gap" by enabling firms to deliver affordable, scalable financial support to an estimated 18 million consumers within a decade, fundamentally shifting how retail investors and pension savers access guidance on investment and retirement decisions.
AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.
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Asset ManagerWealth ManagerAll Firms
PS25/23: Tackling non-financial misconduct in financial services
Policy statements
AI Analysis
The FCA's PS25/23 finalizes guidance on tackling **non-financial misconduct (NFM)** in financial services, amending the COCON sourcebook to clarify how serious NFM breaches conduct rules and integrating it into FIT assessments for fitness and propriety. This matters because it aligns rules across banks and non-banks, enhances accountability, deters harmful workplace cultures, and supports FCA objectives like consumer protection and market integrity by ensuring consistent handling of issues like bullying or harassment.
AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.
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Asset ManagerBankInsurance
CP26/2: Financial Services Compensation Scheme – Management Expenses Levy Limit 2026/27
Consultation papers
AI Analysis
The FCA and PRA are consulting on setting the Financial Services Compensation Scheme (FSCS) Management Expenses Levy Limit (MELL) at £113 million for 2026/27, comprising a £108 million management expenses budget (up £4.4 million from 2025/26, broadly in line with inflation) and a £5 million unlevied reserve. This matters because it caps the operating costs (e.g., IT, staff, legal, claims handling) that FCA- and PRA-authorised firms must fund via levies, excluding separate compensation payments, ensuring FSCS efficiency while controlling firm burdens.
AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.
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BankInsuranceAll Firms
ASIC sends clear message to super trustees amid glaring retirement communications gaps
ASIC sends clear message to super trustees amid glaring retirement communications gaps
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Asset ManagerWealth ManagerInsurance
Federal Court dismisses ASIC’s claims against former Freedom Insurance director and consultant
Federal Court dismisses ASIC’s claims against former Freedom Insurance director and consultant
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InsuranceAll Firms
Prime Super pays ASIC infringement notice alleging misleading statements about tobacco investments
Prime Super pays ASIC infringement notice alleging misleading statements about tobacco investments
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Asset ManagerWealth ManagerInsurance
HESTA pays ASIC infringement notices alleging misleading statements about carbon emissions
HESTA pays ASIC infringement notices alleging misleading statements about carbon emissions
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Asset ManagerInsurance
ASIC announces 2026 enforcement priorities
ASIC announces 2026 enforcement priorities
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BankAsset ManagerInsurance
Sheffield Insurance directors convicted and fined over a five-year financial reporting failure
Sheffield Insurance directors convicted and fined over a five-year financial reporting failure
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InsuranceAll Firms
Cbus ordered to pay $23.5 million penalty for serious failures in processing members death benefits and insurance claims
Cbus ordered to pay $23.5 million penalty for serious failures in processing members death benefits and insurance claims
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Asset ManagerInsurance
Super trustees urged to accelerate progress on retirement support for members
Super trustees urged to accelerate progress on retirement support for members
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Asset ManagerWealth ManagerInsurance
ASIC calls for feedback on stamp duty and portfolio holdings disclosure requirements for super funds
ASIC calls for feedback on stamp duty and portfolio holdings disclosure requirements for super funds
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Asset ManagerWealth ManagerInsurance
ASIC sues Diversa Trustees alleging failures relating to First Guardian
ASIC sues Diversa Trustees alleging failures relating to First Guardian
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Asset ManagerWealth ManagerBank
Netwealth admits to First Guardian failures and agrees to compensate affected members $100 million
Netwealth admits to First Guardian failures and agrees to compensate affected members $100 million
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Asset ManagerWealth ManagerBank
PRA to streamline supervision as part of 2026 priorities
The Prudential Regulation Authority (PRA) has today published its supervisory priorities for 2026, outlining in a letter its sector-specific priorities for the coming year to all banks, building societies, insurers and other PRA-regulated firms.
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BankInsuranceAll Firms
Letter from Gareth Truran and Shoib Khan – Insurance Supervision: 2026 priorities
Letter to Chief Executive Officers of PRA-regulated Insurance firms
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Insurance
Circular CSSF 19/708 - Annex (Updated)
Electronic transmission of documents to the CSSF
AI Analysis
Circular CSSF 19/708 mandates the electronic transmission of specified documents to the CSSF via secure platforms like e-file or SOFiE, effective from February 1, 2019, replacing prior paper or other methods. This updated annex (as amended by Circular CSSF 21/790 and further revisions up to April 1, 2025) standardizes submissions for investment funds and related entities, reducing administrative burdens while ensuring document integrity and CSSF accessibility. Compliance professionals must monitor the dynamic annex list on the CSSF website to avoid nullified submissions.
AI-generated analysis. May contain errors or omissions — verify with the original CSSF source before acting. Full disclaimer.
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Asset ManagerWealth ManagerInsurance
CP1/26 – Financial Services Compensation Scheme – Management Expenses Levy Limit (MELL) 2026/27
Consultation paper 1/26
AI Analysis
The PRA and FCA have jointly issued consultation paper CP1/26 proposing to set the **Management Expenses Levy Limit (MELL) for the Financial Services Compensation Scheme (FSCS) at £113 million for 2026/27**, comprising a £108 million management expenses budget and a £5 million unlevied reserve. This consultation determines the maximum amount the FSCS can levy on authorised financial services firms to fund its statutory compensation scheme operations, directly affecting compliance costs for all regulated entities.
AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.
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BankInsuranceAsset Manager
ESAs publish joint Guidelines on ESG stress testing
ESAs publish joint Guidelines on ESG stress testing 08 January 2026 Guidelines and Technical standards Joint Committee The European Supervisory Authorities (EBA, EIOPA and ESMA - the ESAs) published today their Joint Guidelines on environmental, social, and governance (ESG) stress testing . These Guidelines provide national insurance and banking supervisors with clear guidance on how to integrate ESG risks into supervisory stress tests, both when using established frameworks and when conducti...
AI Analysis
The European Supervisory Authorities (ESAs)—EBA, EIOPA, and ESMA—published final Joint Guidelines on 8 January 2026 to standardize how national competent authorities (NCAs) integrate ESG risks into supervisory stress testing frameworks for banking and insurance sectors, without mandating new ESG-specific tests. These guidelines promote consistency, long-term methodologies, and common standards across the EU, initially prioritizing climate and environmental risks (physical and transition) before expanding to social and governance factors. They matter for compliance professionals as they shape future supervisory expectations, enhancing resilience assessments and aligning with CRD (Article 100(4)) and Solvency II (Article 304c(3)) mandates, potentially influencing firm-level stress testing preparations.
AI-generated analysis. May contain errors or omissions — verify with the original ESMA source before acting. Full disclaimer.
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BankInsurance
Pension value to be put under the spotlight
Pension schemes must now publish transparent data on their performance, costs, and service quality, according to new proposals from the FCA, DWP, and TPR. Pension schemes will need to publish clear data on their performance, costs and quality of service, under proposals announced today by the Financial Conduct Authority (FCA), the Department for Work and Pensions (DWP) and The Pensions Regulator (TPR). If a pension offers poor value, firms and trustees must then fix it by moving savers to bet...
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Asset ManagerWealth ManagerInsurance
ESAs’ Joint Board of Appeal rules on reimbursement of costs in an appeal brought by NOVIS Insurance Company against the European Insurance and Occupational Pensions Authority (EIOPA)
ESAs’ Joint Board of Appeal rules on reimbursement of costs in an appeal brought by NOVIS Insurance Company against the European Insurance and Occupational Pensions Authority (EIOPA) 05 January 2026 Board of Appeal Joint Committee The Joint Board of Appeal (“The Board”) of the European Supervisory Authorities (ESAs) – the EBA, ESMA, EIOPA – has issued its decision on costs arising in the appeal brought by NOVIS Insurance Company, NOVIS Versicherungsgesellschaft, NOVIS Compagnia di Assicurazio...
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Insurance
Berne Financial Services Agreement (BFSA) Operational Direction and Guidelines for UK Insurers’ Section IV Notifications
The Berne Financial Services Agreement (BFSA) is a mutual recognition agreement between the UK and Switzerland, effective from 1 January 2026. This agreement enhances cross-border market access for financial services between the two countries.
Effective Date: 1 January 2026
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Insurance
ID 01/26 MAS Notice 126 - Lapses in Own Risk and Solvency Assessment (ORSA) Report Submissions
Inform and remind insurers of MAS Notice 126 requirements and expectations on ORSA report submissions.
AI Analysis
This MAS circular ID 01/26, published on 02 January 2026, addresses observed lapses in ORSA report submissions under MAS Notice 126, specifically reminding insurers not to fully rely on group-level ORSA reports to meet local requirements. It matters because non-compliance risks regulatory scrutiny, enforcement actions, and weakened enterprise risk management (ERM) frameworks essential for solvency and risk oversight in Singapore's insurance sector.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
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Insurance
Michael Pettifer Insurance Brokers Limited enters liquidation
On 21 November 2025, Michael Pettifer Insurance Brokers Limited, trading as MPI Brokers, entered creditors’ voluntary liquidation. Robert Cooksey of Bridgestones Limited has been appointed as liquidator. MPI Brokers was authorised and regulated by the FCA to sell and arrange insurance policies. The firm specialised in travel insurance.If you need to contact the liquidator, please contact Bridgestones using the details below:Email: mail@bridgestones.co.ukIn writing: MPI Brokers (In Liquidation...
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Insurance
SS2/25: Prudential considerations for insurance and reinsurance undertakings when transferring risk to Special Purpose Vehicles
Supervisory statement 2/25
AI Analysis
Supervisory Statement SS2/25 from the Prudential Regulation Authority (PRA) provides guidance on prudential considerations for UK insurance and reinsurance undertakings transferring risk to Special Purpose Vehicles (SPVs). It clarifies expectations for ensuring such transfers comply with Solvency II requirements, focusing on risk transfer validity, capital relief recognition, and supervisory approval processes. This matters because it aims to enhance transparency and risk management in reinsurance arrangements, reducing potential regulatory arbitrage while supporting efficient risk mitigation for insurers amid evolving market dynamics.
AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.
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Insurance
FCA expands insurance work in response to Which? super complaint
We're expanding the significant work we had planned to improve standards in the home and travel insurance markets, following Which?’s super complaint. Read our response to Which? (PDF)While 79% of consumers who make an insurance claim are satisfied with how it was handled, our work shows there's room for improvement - with 3 in 10 (31%) saying there isn’t enough information to judge the quality of different policies. Over the next year, we will do more to: Improve claims handling, by reviewin...
AI Analysis
The FCA is expanding its planned supervisory work in home and travel insurance markets in response to a Which? super complaint, focusing on improving claims handling, information provision, and overall standards. This matters for compliance professionals as it intensifies scrutiny under Consumer Duty, requiring firms to demonstrate better consumer outcomes amid ongoing simplification of insurance rules. It signals heightened FCA expectations for evidence-based improvements in customer satisfaction and transparency.
AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.
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Insurance
Circular on Financial Institution Incident Reporting
This circular provides guidance on how financial institutions should report incidents to MAS under the various acts, regulations, notices, circulars and guidelines.
AI Analysis
This MAS circular updates the incident reporting process for financial institutions (FIs), mandating use of a revised template on the MAS-Tx platform for reportable incidents starting 1 February 2026. It standardizes initial notifications and follow-up submissions under applicable regulations, enhancing supervisory efficiency amid rising technology risks. Compliance is critical as it aligns with MAS's focus on operational resilience, with non-adherence risking enforcement actions seen in recent AML/CFT penalties.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
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BankInsurancePayment Provider
Using our full toolkit to help consumers
With over 20 years’ experience and responsibility for supervising 5,000 firms, I know that when an issue arises, the first question is often: 'What action will you take?'That’s a fair question – enforcement is one of the most visible ways we act. It often grabs headlines with big fines and publicity.But our role as supervisors is to exercise judgement - selecting the right tool to achieve the best and fastest outcomes for consumers and markets.While enforcement is a vital part of the kit, it’...
AI Analysis
This FCA blog post outlines the regulator's supervisory "toolkit" for addressing consumer harm, emphasizing proactive supervision over enforcement to achieve faster outcomes like redress and market-wide improvements. It matters because it signals FCA's preference for swift, non-enforcement interventions (e.g., skilled person reviews, voluntary requirements), urging firms to respond promptly to supervisory feedback to avoid escalation. Compliance teams should view this as a reminder to prioritize Consumer Duty compliance, as supervision tools are increasingly tied to it for rapid harm prevention.
AI-generated analysis. May contain errors or omissions — verify with the original FCA source before acting. Full disclaimer.
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InsuranceAll Firms
Public statement relating to Enforcement Action between Central Bank of Ireland and Philip Smith
Mr Philip Smith, former Chief Executive Officer (CEO) and Executive Director of RSA Insurance Ireland DAC disqualified for 13 years by the Central Bank of Ireland for his admitted participation in a breach of financial services law by RSAII On 1 December 2025 the Central Bank of Ireland reprimanded Mr Smith and disqualified him for 13 years from being a person concerned in the management of a regulated financial service provider for his participation in a breach by RSA Insurance Ireland DAC (...
AI Analysis
The Central Bank of Ireland (CBI) reprimanded and disqualified former RSA Insurance Ireland DAC (RSAII) CEO Philip Smith for 13 years from management roles in regulated financial service providers due to his admitted role in under-reserving large loss claims, breaching Article 13(1)(a) of the European Communities (Non-Life Insurance) Framework Regulations 1994 (S.I. No. 359/1994). This enforcement action underscores CBI's commitment to individual accountability for senior executives who circumvent controls, risking policyholder protection and firm solvency, as evidenced by RSAII's subsequent need for a major capital injection. It matters for compliance professionals as it demonstrates CBI's use of prolonged disqualifications and inquiries under the Administrative Sanctions Procedure (ASP) to deter governance failures in insurance firms.
AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.
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InsuranceAll Firms
Central Bank of Ireland publishes roadmap to deliver a more effective and efficient regulatory framework
New report outlines the Central Bank’s approach to more effective and efficient regulatory and supervisory framework, reducing complexity and improving clarity while maintaining resilience and important protections in the system. This work builds on the Central Bank’s strategy to transform regulation and supervision, including the introduction of our new integrated supervisory approach and the improvements made in our gatekeeping processes in recent years. The roadmap sets out a comprehensive...
AI Analysis
The Central Bank of Ireland published a comprehensive multi-year roadmap on December 10, 2025, aimed at streamlining its regulatory and supervisory framework across four pillars: supervision, regulation, gatekeeping, and reporting. This initiative represents a strategic shift toward more effective and efficient oversight while explicitly maintaining resilience standards and consumer protections, responding to EU calls for regulatory reform to enhance competitiveness.
AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.
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BankAsset ManagerInsurance
Hedwig Ulmer Busenhart joins FINMA’s Executive Board
The Board of Directors of the Swiss Financial Market Supervisory Authority FINMA has appointed Hedwig Ulmer Busenhart as the new Head of the Insurance division. The qualified mathematician and actuary has over 25 years of management experience in the insurance sector and will take up her position on 1 April 2026. She succeeds Birgit Rutishauser, who left FINMA in April 2025.
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Insurance
ID 15/25 Update to Notice 133 and Notice FHC-N133 on Additional Criteria for Additional Tier 1 and Tier 2 Capital Instruments for Insurers
Informs insurers on the amendments of Notice 133 and Notice FHC-N133 to include the additional criteria to recognise capital instruments issued by insurers as AT1 or Tier 2 Capital under the RBC 2 framework, subject to the condition that such capital instruments are sold only to persons who are not retail investors in Singapore from 1 January 2026.
AI Analysis
MAS Circular ID 15/25 announces amendments to Notice 133 and Notice FHC-N133, introducing additional criteria for insurers to recognize capital instruments as Additional Tier 1 (AT1) or Tier 2 Capital under the RBC 2 framework. These changes enhance capital quality standards while restricting issuance to non-retail investors in Singapore, effective 1 January 2026, to strengthen insurer resilience and policyholder protection.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
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Insurance
CP22/25 – UK Solvency II reporting and disclosure: Post-implementation amendments
Consultation paper
AI Analysis
CP22/25 is a consultation paper on post-implementation amendments to UK Solvency II reporting and disclosure requirements, published by the PRA on 4 December 2025. The consultation addresses feedback and queries from insurance firms following the substantial reduction in reporting templates implemented at the end of 2024, clarifying expectations for compliance with the revised Reporting Part of the PRA Rulebook across multiple technical areas including accident/underwriting year reporting, annuity reporting by currency, and internal model governance disclosures.
AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.
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Insurance
PS25/25 – Enhancing banks’ and insurers’ approaches to managing climate-related risks – Update to SS3/19
Policy statement 25/25
AI Analysis
PS25/25 is the PRA's policy statement providing feedback on CP10/25 and issuing updated Supervisory Statement SS5/25, which replaces SS3/19 to enhance banks' and insurers' management of climate-related financial risks through strengthened governance, risk management, scenario analysis, data quality, and disclosures. It matters because it sets a higher regulatory bar for embedding climate risks proportionately into core processes like ICAAP, ILAAP, ORSA, and financial reporting, promoting resilience and strategic decision-making amid evolving climate threats.
AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.
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BankInsurance
SS5/25 – Enhancing banks’ and insurers’ approaches to managing climate-related risks
Supervisory statement 5/25
AI Analysis
SS5/25 is the PRA's updated supervisory statement, published on 3 December 2025, replacing SS3/19 and setting enhanced expectations for banks and insurers to manage climate-related risks through governance, risk management, scenario analysis, data quality, and disclosures. It matters because it represents a step change from awareness-raising to embedding robust, proportionate practices that integrate climate risks into core prudential processes like ICAAP, ILAAP, ORSA, and capital planning, aligning with the PRA's objectives for firm safety and soundness amid evolving physical and transition risks.
AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.
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BankInsurance
The Macrofinancial effects of climate change in Ireland: What have we learned? – Speech by Deputy Governor Vasileios Madouros
Good morning everyone. 1 I am delighted to join you here today for this year’s Climate Finance week. “The scientific evidence that climate change is a serious and urgent issue is […] compelling.” “The benefits of strong, early action on climate change outweigh the costs.” And “the choices made in the next 10-20 years […] will affect greenhouse gas emissions for the next half-century.” These are not my words. And they are not recent words. They are key conclusions from the Stern Review on the ...
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BankAsset ManagerInsurance
Life Insurance Stress Test 2025 results: Annex 4 – insurer-specific results
This is the first exercise conducted under the new Solvency UK regulatory regime implemented in 2024.
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Insurance
Life Insurance Stress Test: 2025 Results
This is the first exercise conducted under the new Solvency UK regulatory regime implemented in 2024. The PRA published sector-level results on 17 November 2025 followed by individual firm disclosure for the core scenario on 24 November 2025.
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Insurance
DP2/25 – Alternative Life Capital: Supporting innovation in the life insurance sector
Discussion paper 2/25
AI Analysis
The PRA's Discussion Paper 2/25 (published November 14, 2025) invites UK life insurers to provide feedback on potential regulatory reforms that would enable them to access **alternative forms of capital through risk transfer to capital markets**, outside traditional equity and debt issuance. This initiative aims to address capital constraints in the UK life insurance sector while maintaining policyholder protection and supporting long-term economic growth.
AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.
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Insurance
Insurance intermediary certificates unlawfully obtained due to manipulation
An investigation by the Insurance Industry Vocational Training Association (VBV) has revealed that VBV intermediary certificates were wrongly issued in around 100 cases as a result of manipulation. The VBV is not supervised by FINMA. The association acts on behalf of the insurance and intermediary industry and will restore compliance with the law for these certificates. It has also filed a criminal complaint. Untied intermediaries are subject to direct supervision by FINMA. If there is eviden...
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Insurance
Lighting the fuse for innovation in insurance − speech by Shoib Khan
Given at Insurance Innovators Summit
Sectors:
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Insurance
ID 14/25 and FAS 16/2025 Amendments to MAS Notice 211 and MAS Notice 502
Notification of Amendments to Annex 1 of MAS Notice 211 on Minimum and Best Practice Training and Competency Standards for Direct General Insurers and Appendix 1 of MAS Notice 502 on Minimum and Best Practice Training and Competency Standards for Direct General Insurers.
AI Analysis
This MAS circular (ID 14/25 and FAS 16/2025, published 30 October 2025) notifies amendments to Annex 1 of MAS Notice 211 and Appendix 1 of MAS Notice 502, focusing on minimum and best practice **training and competency standards** for direct general insurers and insurance brokers. It matters because these updates strengthen regulatory expectations for staff qualifications in the general insurance sector, ensuring higher professional standards amid evolving risks like AML/CFT, with direct implications for licensing compliance and operational resilience.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
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InsuranceBroker Dealer
ID 13/25 Response to Consultation Paper on Proposed Capital Treatment for Structured Products and Infrastructure Investments for Insurers
Informs insurers on the issuance of the Response to Consultation Paper on the proposed enhancements to the RBC 2 capital treatment for investment in structured products and infrastructure investments for insurers under RBC 2 framework.
AI Analysis
The Monetary Authority of Singapore (MAS) issued Circular ID 13/25 on 28 October 2025, responding to feedback on its October 2024 consultation paper proposing enhancements to the RBC 2 capital treatment for insurers' investments in structured products and infrastructure assets. This matters because it finalizes revisions to MAS Notice 133, introducing differentiated risk charges to encourage infrastructure investments while maintaining prudential safeguards, with changes effective 31 March 2026.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
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Insurance
PS17/25 – Matching Adjustment Investment Accelerator
Policy statement 17/25
AI Analysis
PS17/25 establishes the **Matching Adjustment Investment Accelerator (MAIA) framework**, enabling PRA-regulated insurers to regularize and expand their use of matching adjustment (MA) in calculating capital requirements for certain long-duration insurance liabilities. This framework is significant because it provides a structured pathway for firms to optimize capital efficiency while maintaining prudential safeguards through exposure limits, eligibility assessments, and breach remediation mechanisms.
AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.
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Insurance
LIAC02/25 – Low Impact Amendments Consultation October 2025
The PRA has published LIAC02/25, a consultation on proposed low impact amendments to rules and policy.
AI Analysis
The PRA's LIAC02/25 consultation, published on 16 October 2025, proposes low-impact amendments to its Rulebook and policy materials, including technical fixes, conditional disapplications, and miscellaneous corrections to enhance accuracy and align with prior policies. These changes matter for PRA-regulated firms as they ensure regulatory consistency with minimal operational burden, with most taking effect in late 2025 or early 2026 following the consultation period.
AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.
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InsuranceBankAll Firms
ID 12/25 Response to Consultation Paper on Proposed Inclusion of Additional Criteria for Additional Tier 1 and Tier 2 Capital Instruments for Insurers
Informs insurers on the issuance of the Response to Consultation Paper on Proposed Inclusion of Additional Criteria for Additional Tier 1 and Tier 2 Capital Instruments for Insurers.
AI Analysis
This MAS circular (ID 12/25) announces the Response to Consultation Paper on adding new criteria for insurers' Additional Tier 1 (AT1) and Tier 2 capital instruments under the RBC 2 framework, finalizing enhancements to strengthen capital quality and loss absorption. It matters because it directly updates Notices 133 and FHC-N133, impacting how insurers recognize capital instruments from 1 January 2026, with a restriction to non-retail investors in Singapore, aligning Singapore's regime with global standards like IAIS ICS.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
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Insurance
PS15/25 – Closing liquidity reporting gaps and streamlining Standard Formula reporting
Policy statement 15/25
AI Analysis
PS15/25 introduces **new liquidity risk reporting requirements for major UK insurance firms**, closing data gaps identified during the March 2020 "dash for cash" and September 2022 LDI crisis. The policy mandates four new reporting templates for firms with significant derivatives or securities lending exposure, with implementation deferred to **30 September 2026** to allow adequate preparation time.
AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.
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Insurance
SS15/16 – Solvency II: Monitoring model drift and standard formula SCR reporting for firms with permission to use an internal model
Supervisory Statement 15/16
AI Analysis
SS15/16 establishes the PRA's expectations for UK insurance firms using approved internal models to calculate their Solvency Capital Requirement (SCR), requiring them to maintain the ability to calculate SCR using the standard formula and submit standard formula SCR calculations for regulatory monitoring purposes. This guidance is critical because it ensures capital requirements remain reflective of actual firm risks and protects policyholder security by preventing model drift—where internal models diverge from underlying risk realities over time.
AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.
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Insurance
ID 11/25 Amendments To MAS Notice 321 On Direct Purchase Insurance Products
Requirements for life insurers to manufacture and offer direct purchase insurance (DPI).
AI Analysis
ID 11/25 announces amendments to MAS Notice 321, which mandates requirements for direct life insurers to manufacture and offer standardized Direct Purchase Insurance (DPI) products, such as term life and whole life policies with optional critical illness riders. These updates, effective 1 October 2025, refine product approval and notification processes to streamline launches while maintaining consumer protection and regulatory oversight for no-advice direct sales channels. This matters for compliance as it ensures insurers provide affordable, comparable direct options, reducing reliance on intermediaries amid Singapore's push for direct distribution under initiatives like FAIR.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
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Insurance
FINMA and the UK supervisory authorities strengthen cooperation in financial services
The Swiss Financial Market Supervisory Authority FINMA and the UK Financial Conduct Authority FCA and Prudential Regulation Authority PRA today signed a memorandum of understanding. The memorandum sets out details of the co-operation under the Berne Financial Services Agreement and opens up new cross-border opportunities in insurance and investment services.
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BankAsset ManagerInsurance
CP20/25 – Insurance third-country branches: policy implementation and other updates
Consultation paper 20/25
AI Analysis
CP20/25 is a PRA consultation paper published on 16 September 2025 that proposes targeted updates to the regulatory framework governing third-country insurance branches operating in the UK. The consultation addresses inconsistencies introduced during the Solvency II review, clarifies supervisory expectations, and increases the subsidiarisation threshold—matters that directly affect the operational and compliance costs of non-UK insurers seeking to maintain branch operations rather than establish subsidiaries in the UK market.
AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.
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Insurance
Swiss insurance sector posts mixed results in the 2024 financial year
The 2024 insurance market report, which was published today by FINMA, offers an overview of the Swiss insurance market last year. Swiss insurance companies achieved aggregate annual profits of CHF 10.4 billion in 2024, which represents a 24% decrease over the previous year. While life and non-life insurers were able to increase their profits, reinsurers recorded a significant decline.
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Insurance
ID 10/25 Response to Consultation Paper on Proposed Equity Counter-Cyclical Adjustment for Insurers
Informs insurers on the issuance of the Response to Consultation Paper on Proposed Equity Counter-Cyclical Adjustment for Insurers.
AI Analysis
The Monetary Authority of Singapore (MAS) has finalized its **equity counter-cyclical adjustment (CCA)** framework for insurers, making it a mandatory requirement under the RBC 2 capital framework effective January 1, 2026. This regulatory enhancement aims to reduce procyclicality in equity investment risk requirements by adjusting capital charges based on market conditions, requiring all licensed insurers to implement uniform CCA calculations using monthly average year-on-year equity returns.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
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Insurance
ID 07/25 Issuance of Consultation Paper on Proposed Changes to the Group Capital Framework for Designated Financial Holding Companies (Licensed Insurer)
Informs insurers of the issuance of the Consultation Paper on Proposed Changes to the Group Capital Framework for Designated Financial Holding Companies (Licensed Insurer).
AI Analysis
The Monetary Authority of Singapore (MAS) issued a consultation paper on 24 July 2025 proposing amendments to Notice FHC-N133, which governs the valuation and capital framework for Designated Financial Holding Companies (Licensed Insurer) under the enhanced risk-based capital (RBC 2) consolidation approach. These changes aim to refine the group capital framework by incorporating global regulatory updates and market developments, ensuring more robust capital treatment for non-insurance entities, joint ventures, and non-controlling interests. Compliance professionals should prioritize this as it directly impacts capital adequacy calculations for affected groups, with the consultation now closed post-25 August 2025.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
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Insurance
ID 08/25 Issuance of Consultation Paper and Quantitative Impact Study on Proposed General Insurance Catastrophe Risk Requirement
Informs insurers of the issuance of the Consultation Paper and Quantitative Impact Study on the Proposed General Insurance Catastrophe Risk Requirement
AI Analysis
The Monetary Authority of Singapore (MAS) issued a consultation paper on 24 July 2025 proposing a new **General Insurance Catastrophe Risk Requirement (GI Cat risk charge)** under the enhanced Risk-Based Capital 2 (RBC 2) framework to capture extreme events not covered by existing premium and claim liability risks. This matters for general insurers as it introduces standardized scenarios for Singapore Insurance Fund (SIF) and Offshore Insurance Fund (OIF), plus bespoke scenarios, potentially increasing capital requirements and necessitating model governance and quantitative impact studies (QIS). Compliance professionals must engage promptly as the consultation closed on 5 September 2025, with implementation likely following RBC 2 enhancements.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
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Insurance
The ACPR and AMF Joint Unit for Insurance, Banking and Retail Investment has published its 2024 Annual Report
Annual report Savings protection Marketing Retail investors Journalists The ACPR and AMF Joint Unit for Insurance, Banking and Retail Investment has published its 2024 Annual Report
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BankAsset ManagerInsurance
Central Bank publishes Flood Protection Gap Report
The Central Bank of Ireland has today (Monday 14 October) published its Flood Protection Gap Report . Some homes and businesses in Ireland are unable to obtain flood cover. This means that when a flood occurs, there can be a shortfall between the actual cost of the flood and the portion of that cost that is covered by insurance. This is the flood protection gap. The occurrence of severe flooding could and does leave households and business with high levels of uninsured losses, and may create ...
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BankInsuranceAll Firms
Corporate Sustainability Reporting directive (CSRD): EFRAG and the European Commission publish implementation guidance and FAQs
Sustainable Finance Periodic & ongoing disclosures Corporate Sustainability Reporting directive (CSRD): EFRAG and the European Commission publish implementation guidance and FAQs
AI Analysis
The AMF publication announces implementation guidance and FAQs on the Corporate Sustainability Reporting Directive (CSRD) released by EFRAG and the European Commission, aimed at clarifying reporting standards under the European Sustainability Reporting Standards (ESRS). This matters for compliance professionals as it provides actionable tools to meet expanded sustainability disclosure requirements, ensuring audit-ready reporting amid phased rollouts and third-party assurance mandates. It supports harmonized EU-wide compliance for nearly 50,000 companies, enhancing data comparability and investor transparency.
AI-generated analysis. May contain errors or omissions — verify with the original AMF source before acting. Full disclaimer.
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Asset ManagerBankInsurance
The ACPR and AMF Joint Unit for Insurance, Banking and Retail Investment has published its 2023 Annual Report
Annual report Savings protection Marketing Retail investors Journalists The ACPR and AMF Joint Unit for Insurance, Banking and Retail Investment has published its 2023 Annual Report
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BankAsset ManagerInsurance
Pan-European Personal Pension Products: the AMF complies with EIOPA guidelines
Asset management Pan-European Personal Pension Products: the AMF complies with EIOPA guidelines
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Asset ManagerInsurance
The ACPR and AMF Joint Unit for Insurance, Banking and Retail Investment publishes its 2022 annual report
Annual report Savings protection Marketing Financial products Retail investors Journalists The ACPR and AMF Joint Unit for Insurance, Banking and Retail Investment publishes its 2022 annual report
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BankAsset ManagerInsurance
Address by Director of Insurance Supervision, Domhnall Cullinan, to the Insurance Ireland-Milliman CRO Forum
I’d like to thank Insurance Ireland and Milliman for inviting me here today for this Chief Risk Officer (CRO) Forum. I’d like to use this opportunity to briefly reflect on the recent turmoil we’ve seen in the banking sector, what this might mean for (re)insurers, and to highlight some of our supervisory priorities going forward. Much commentary has already been devoted to the fallout from SVB and Signature Bank in the US, and to the acquisition of Credit Suisse by UBS. Whilst the exposure of ...
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BankInsurance
“Review of the Consumer Protection Code: securing customers’ interests” - Remarks by Gerry Cross, Director of Financial Regulation – Policy & Risk at Insurance Ireland - KPMG Briefing Session
“Review of the Consumer Protection Code: securing customers’ interests” - Remarks by Gerry Cross, Director of Financial Regulation – Policy & Risk, Central Bank of Ireland at Insurance Ireland - KPMG Briefing Session: CBI Review of the Consumer Protection Code
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BankInsurance
The AMF has requested the suspension of ORPEA's financial instruments
Markets Periodic & ongoing disclosures The AMF has requested the suspension of ORPEA's financial instruments
AI Analysis
On October 24, 2022, France's Autorité des marchés financiers (AMF) suspended all financial instruments (shares, debt securities, and related instruments) issued by ORPEA S.A., a major European care homes operator, pending disclosure of material information under the European Market Abuse Regulation. This enforcement action reflects serious governance and disclosure failures at a publicly listed company facing allegations of operational malpractice and undisclosed financial difficulties.
AI-generated analysis. May contain errors or omissions — verify with the original AMF source before acting. Full disclaimer.
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All Firms
Insurance supervision in an uncertain environment - Remarks by Domhnall Cullinan, Director of Insurance Supervision, at Financial Services Ireland
Introduction Good morning everyone. Thank you for inviting me to speak here today. Before I begin, I’d like to acknowledge the important role played by Financial Services Ireland in advocating for its members, and in promoting the Irish financial services sector, both here and abroad. Whilst the respective missions we undertake are undoubtedly different, we have a shared interest in a strong and stable financial services sector. It is claimed that the phrase “may you live in interesting times...
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Insurance
AMF's response to the EFRAG consultation on the draft European sustainability reporting standards
Regulatory developments Europe & international Sustainable Finance Periodic & ongoing disclosures AMF's response to the EFRAG consultation on the draft European sustainability reporting standards
AI Analysis
The AMF's position paper responds to EFRAG's 2022 public consultation on the first set of draft European Sustainability Reporting Standards (ESRS) under the CSRD, welcoming their ambition on ESG topics and double materiality while urging proportionality, international interoperability, materiality focus, and alignment with EU laws like SFDR. This matters for compliance professionals as it shapes final ESRS, influencing mandatory sustainability disclosures for EU firms and financial market participants from 2024 onward, with potential simplifications affecting reporting burdens. https://www.amf-france.org/en/news-publications/news/amfs-response-efrag-consultation-draft-european-sustainability-reporting-standards
AI-generated analysis. May contain errors or omissions — verify with the original AMF source before acting. Full disclaimer.
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Asset ManagerBankInsurance
The ACPR and AMF Joint Unit for Insurance, Banking and Retail Investment publishes its 2021 annual report
Annual report Savings protection Journalists Investment services providers Investment management companies Listed companies and issuers The ACPR and AMF Joint Unit for Insurance, Banking and Retail Investment publishes its 2021 annual report
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Asset ManagerBankInsurance
Central Bank implements new Insurance Regulations
Ban on price walking in motor and home insurance comes into effect on 1 July 2022. New customer discounts not affected. For automatic renewals, better information and reminders to be provided to encourage switching. The Central Bank of Ireland has today published the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Insurance Requirements) Regulations 2022 which will apply to insurance undertakings and insurance intermediaries from 1 July 2022. The Central Bank identified d...
AI Analysis
The Central Bank of Ireland (CBI) published the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Insurance Requirements) Regulations 2022 on 15 March 2022, banning price walking in motor and home insurance from 1 July 2022 to eliminate loyalty penalties for renewing customers while preserving new customer discounts and competition. This matters for compliance professionals as it imposes immediate prohibitions on differential pricing, mandatory annual reviews, enhanced renewal disclosures, and record-keeping, with CBI emphasizing ongoing oversight to ensure fair consumer outcomes.
AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.
Effective Date: 1 July 2022
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Insurance
The AMF invites providers, users and rated entities to respond to ESMA's Call for evidence on the ESG rating market in Europe
Europe & international Sustainable Finance Asset management The AMF invites providers, users and rated entities to respond to ESMA's Call for evidence on the ESG rating market in Europe
AI Analysis
The AMF is urging French stakeholders—ESG rating providers, users, and rated entities—to respond to ESMA's 2022 Call for Evidence on the EU ESG rating market to inform European Commission efforts on improving transparency and reliability. This matters as it contributes to the foundational data driving the ESG Ratings Regulation (EU 2024/3005), which imposes authorization, disclosure, and conflict-of-interest rules on providers, affecting sustainable finance compliance across the EU. With the regulation applying from 2 July 2026, early engagement helps shape final rules amid ongoing ESMA consultations on technical standards.
AI-generated analysis. May contain errors or omissions — verify with the original AMF source before acting. Full disclaimer.
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Asset ManagerBankInsurance
Central Bank publishes three Behind the Data papers examining the international activities of the Irish financial sector
Recent increase in cross-border financial assets is largely due to migration of assets from UK banks to subsidiaries in Ireland, to continue to serve EU clients after Brexit. Paper examining the strength of the connectedness of Irish insurance sector and investment funds finds insurers primarily hold shares in equity, bond, and mixed funds. The Irish non-bank financial intermediation sector – as measured using a Financial Stability Board framework - is the fifth largest in the world. The Cent...
AI Analysis
The Central Bank of Ireland (CBI) published three "Behind the Data" papers on 20 January 2022 analyzing the international activities of Ireland's banking, insurance, investment funds, and non-bank financial intermediation (NBFI) sectors, highlighting post-Brexit asset migrations, insurer exposures via funds, and Ireland's fifth-largest global NBFI sector per FSB metrics. This matters for compliance professionals as it signals heightened CBI scrutiny on cross-border exposures, interconnectedness, and data granularity needs, potentially informing future supervisory expectations, macro-prudential policies, and reporting enhancements without imposing immediate rules.
AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.
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BankAsset ManagerInsurance
“Insurance firms require strong customer-focused cultures and Central Bank will intervene on practices unfair or potentially unfair to consumers” – Director General Derville Rowland
Differential Pricing and Business Interruption Insurance demonstrate Central Bank’s focus on conduct, culture and customer treatment Over €130 million paid in business interruption insurance claims to date Insurance sector needs to be prepared for the challenges ahead including digitisation and climate change Speaking at the Deloitte 2022 Insurance Industry Trends event Director General, Financial Conduct Derville Rowland discussed the position of the insurance sector in Ireland, the effect o...
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Insurance
Remarks by Director General, Financial Conduct Derville Rowland at the Deloitte Global Insurance Webinar
Remarks by Director General, Financial Conduct Derville Rowland at the Deloitte Global Insurance Webinar Good morning everybody and thank you to Deloitte for the invitation to speak at this webinar. Some people think of insurance as a relatively modern financial concept. But of course, as the insurance experts in this audience know, its origins can be traced all the way back to certain kinds of shipping loans in Babylon, through Ancient Rome and Greece, and into Medieval Europe. In the 17 th ...
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Insurance
Central Bank proposes to end the loyalty penalty for private car and home insurance customers
Review finds that differential pricing practices can result in unfair outcomes for some consumers Proposal to ban the practice of ‘price walking’ to end the loyalty penalty for consumers who do not switch insurance provider regularly Proposals will ensure that new business discounts are still available to allow consumers to seek the best prices, while ensuring that those who remain with the same insurance provider are not penalized The Central Bank is proposing to ban the practice of price wa...
AI Analysis
The Central Bank of Ireland (CBI) proposes banning "price walking" in private car and home insurance to eliminate the loyalty penalty, where long-term customers pay significantly higher premiums (14% more for car, 32% more for home after 9 years) than new customers with similar risk profiles. This stems from a 2021 review finding differential pricing unfair to loyal or less mobile consumers, with regulations finalized and effective from 1 July 2022, confirmed effective in subsequent reviews. It matters as it enforces fair treatment under CBI's consumer protection mandate, requiring insurers to overhaul pricing models while preserving new customer discounts to maintain competition.
AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.
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Insurance
Supervisory Priorities in Uncertain Times - Domhnall Cullinan, Director of Insurance Supervision
Introduction Good morning, and thank you for attending our Insurance Industry Event, the second of these which we’ve held virtually. Hopefully, as the vaccine rollout continues and restrictions are eased, there won’t have to be a third! The COVID 19 crisis has brought about a significant amount of change to all of our personal and professional lives, and with it has provided the opportunity to reflect on what is important, and where our priorities should lie. With this in mind, I would like t...
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Insurance
The importance of fitness, probity and ensuring responsibility - Director General, Financial Conduct, Derville Rowland
Speech delivered at Institute of Directors’ Briefing Webinar on 10 June 2021 Good morning everyone, I am delighted to speak to you on the importance of effective culture in firms, the contribution fitness and probity can make, and how we see the forthcoming Individual Accountability Framework further reinforcing effective culture. I’ll come to each of those topics in turn. But first let me say that the Central Bank and the Institute of Directors have overlapping visions. The Central Bank serv...
AI Analysis
This 2021 speech by Derville Rowland, Director General of Financial Conduct at the Central Bank of Ireland (CBI), emphasizes the critical role of the Fitness & Probity (F&P) regime and the forthcoming Individual Accountability Framework (IAF) in fostering effective culture, governance, and individual responsibility in regulated firms. It matters because it signals CBI's supervisory priorities on senior role holders' competence, integrity, and accountability, which have since evolved into concrete regulatory updates, directly impacting board and compliance functions to mitigate conduct risks and ensure consumer protection. https://www.centralbank.ie/news/article/speech-importance-of-fitness-probity-and-ensuring-responsibility-derville-rowland-10-june-2021
AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.
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BankAsset ManagerInsurance
Opening remarks at the 2020 Insurance Industry Briefing - Domhnall Cullinan, Director of Insurance Supervision
Opening remarks at the 2020 Insurance Industry Briefing Good morning everyone. I would like to thank you for attending today’s industry briefing. In my remarks this morning, I will take this opportunity to touch on: the role that insurance can play in society; some of the reasons why the industry in Ireland is negatively perceived; and the areas of supervisory focus for the Central Bank moving forward. 2020 has been an unprecedented year in so many respects and the emergence of COVID-19 has a...
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BankInsurance
Introductory statement by Governor Gabriel Makhlouf at the Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Good afternoon Chairman, Committee members, I am joined by Ed Sibley, Deputy Governor, Prudential Regulation and Derville Rowland, Director General, Financial Conduct. We welcome the opportunity to appear before you today. The effects of the COVID-19 pandemic have been deep and distressing for our community. The actions taken to contain the health emergency have affected the economy and all of our lives. The Central Bank’s job is to ensure the financial system operates in the best interests o...
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BankInsuranceAll Firms
Introductory statement by Derville Rowland, Director General, Financial Conduct, at the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach
I am joined today by Gráinne McEvoy, Director of Consumer Protection, and Domhnall Cullinan, Director of Insurance Supervision. Thank you for this opportunity to speak to you today about the Central Bank’s work in regulating and supervising the Irish insurance industry and specifically the practices of differential pricing and dual pricing. Insurance serves a critical role in the functioning of a modern society, through reducing uncertainty by protecting people and businesses against the risk...
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BankInsurance
“Thriving in Challenging Times” - Central Bank Insurance Conference
Insurance conference explores challenges facing the insurance industry Introduction of proposed judicial guidelines on personal injury claims would bring stability to the cost of insurance Solvency II review in 2020 to ensure continued protection of policyholders and beneficiaries The Central Bank hosted a conference for the insurance industry today with the theme “ Thriving in Challenging Times ”. The conference brought together domestic and international thought-leaders and policy makers to...
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Insurance
Enforcement Action: RSA Insurance Ireland DAC fined €3.5m
The Central Bank of Ireland imposes a fine of €3,500,000 on RSA Insurance Ireland DAC for regulatory breaches relating to large loss claims and accounting irregularities On the 18 December 2018, the Central Bank of Ireland (the “ Central Bank ”) reprimanded and fined RSA Insurance Ireland DAC (“ RSAII ” or the “ Firm ”) €3,500,000 in respect of serious breaches relating to the following: Failure to establish and maintain Technical Reserves in respect of all underwriting liabilities assumed by...
AI Analysis
The Central Bank of Ireland (CBI) fined RSA Insurance Ireland DAC (RSAII) €3.5 million in December 2018 for serious breaches involving failure to maintain adequate technical reserves, inadequate internal controls and accounting procedures, and weak governance, stemming from deliberate under-reserving of large loss claims from 2009 to 2013, which understated reserves by €78.2 million as of 30 September 2013. This enforcement action underscores the CBI's zero-tolerance stance on reserving practices that risk policyholder protection and financial stability, highlighting how governance failures enabled manipulation and led to a significant capital injection for RSAII. It matters for compliance professionals as it demonstrates ongoing CBI scrutiny, with related actions against individuals like former CEO Philip Smith (13-year disqualification in 2025) and a former actuary (5-year prohibition).
AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.
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Insurance
New Data Series: Insurance Data – Solvency and Financial Condition Reports
The Central Bank of Ireland has today published a consolidated view of publically available data for insurance and reinsurance firms. Under new Solvency II regulations, firms must provide public disclosures. The public disclosures take the form of a Solvency and Financial Condition Report (SFCR), which firms produce on an annual basis. All Individual SFCRs from firms regulated by the Central Bank are available in a dedicated repository on the Central Bank’s website . This year the Central Ban...
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Insurance
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