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At the same time such MAGs may carry out via subsidiary companies a range of financial services, including payments and lending services. [read post]
17 Jan 2022, 1:28 am by Laura Hodgson (UK)
Insurance company boards should have a clear understanding of exposure to credit downgrades and defaults and the ability to recover resulting losses. [read post]
10 Jan 2022, 1:36 pm by Kevin LaCroix
  The Underlying Appraisal Action Stillwater Mining Company is a mining company organized under Delaware law and based in Montana. [read post]
7 Jan 2022, 8:55 pm by Simon Lovegrove (UK)
The FCA notes that as part of the Financial Services Act 2021, Parliament legislated to extend the Undertakings for the Collective Investment in Transferable Securities (UCITS) exemption in The Packaged Retail and Insurance-based Investment Products (PRIIPs) Regulation (as enacted in retained EU law) by 5 years – from 31 December 2021 to 31 December 2026. [read post]
29 Dec 2021, 12:00 pm by Kevin LaCroix
  The implications for insurers D&O insurers should assess the climate-related risks to insureds based on governance issues, continuous disclosure obligations and the insured’s interactions with institutional investors. [read post]
8 Dec 2021, 11:27 am by CFM Admin
This update includes the following: Annual Compliance & Other ItemsAnnual Fund MattersAnnual Management Company MattersRegulatory & Other Items from 20212022 Compliance Calendar**** Annual Compliance & Other Items Annual Privacy Policy Notice. [read post]
8 Dec 2021, 7:27 am by CFM Admin
This update includes the following: Annual Compliance & Other ItemsAnnual Fund MattersAnnual Management Company MattersRegulatory & Other Items from 20212022 Compliance Calendar**** Annual Compliance & Other Items Annual Privacy Policy Notice. [read post]
3 Dec 2021, 9:49 am by Kristian Soltes
” The Yellen-chaired Working Group’s report called on congress to pass legislation to “ensure that payment stablecoins are subject to appropriate federal prudential oversight on a consistent and comprehensive basis. [read post]
3 Dec 2021, 9:49 am by Kristian Soltes
” The Yellen-chaired Working Group’s report called on congress to pass legislation to “ensure that payment stablecoins are subject to appropriate federal prudential oversight on a consistent and comprehensive basis. [read post]
In the insurance sector, accountable entities are: general insurers; authorised non-operating holding-companies of general insurers; life companies; registered non-operating holding companies of life companies; and private health insurers. [read post]
3 Nov 2021, 7:05 am by Hunton Andrews Kurth LLP
 These prudential risks are discussed in Part II, which includes the prudential regulatory gaps, and Part III describes the PWG’s recommendations for addressing these risks. [read post]
The FCA’s report outlines: its ESG strategy and how it is evolving; a timeline of ESG publications; climate-related risks which include insurance underwriting risk, credit risk, financial market risk and operational risk; how firms and listed companies are planning to transition to net zero; and the role of capital mobilisation in financing both climate change adaptation and climate change mitigation. [read post]
18 Oct 2021, 5:45 am by Laura Hodgson (UK)
Extensive changes have been made to group supervision, including the application of Solvency II to insurance holding companies and mixed financial holding companies. [read post]
15 Oct 2021, 5:21 am by Patrick Bracher (ZA)
  The arrangement contravened the Insurance Act of 2017:  section 30(1)(a) for having no documentary evidence of its insurance business regarding the loan; section 36(1) because the arrangement breached minimum capital requirements; and section 38(1)(e) because the insurer concluded a loan to the holding company without the approval of the Prudential Authority. [read post]
4 Oct 2021, 10:00 am by Comitz Stanley
Insurance companies utilize a wide array of tactics to deny claims, particularly when there is a lot of money on the line. [read post]
24 Sep 2021, 5:00 am by John Jascob
For example, it is possible to look up different standards for different industries in the financials category, like commercial banking, insurance, investment banking and brokerage, etc. [read post]
6 Sep 2021, 7:57 am by Laura Hodgson (UK)
The Prudential Regulation Authority (PRA) has launched a consultation on its proposed approach to interpreting and applying the definition of an insurance holding company. [read post]