Treasury and FSA publish discussion paper on insurance group supervision
UK regulators aim to overhaul the insurance industry with a minimum of regulatory burden.
UK proposals for a “step-change” for the insurance industry have been issued in a joint consultation paper for Solvency II. The paper, published by the Treasury and the Financial Services Authority (FSA) outlines the UK’s approach to implementing the EU directive for insurance.
The prudential regulation for the insurance industry “will allow insurers to work more efficiently across borders, while aligning our rules with global regulatory standards. We hope our proposals will stimulate debate on
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