- What is new: Preliminary findings from the Financial Conduct Authority’s (FCA’s) market study of premium finance, which focuses on motor and home insurance, highlight concerns about affordability, value and transparency,...more
8/4/2025
/ Banking Sector ,
Competition ,
Consumer Financial Products ,
Consumer Protection Laws ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Insurance Industry ,
Interest Rates ,
Loans ,
Regulatory Oversight ,
Regulatory Requirements ,
UK
What is new: The UK government has proposed a new regulatory framework for captive insurance companies, aiming to simplify regulations and enhance competitiveness in the financial services sector.
Why it matters: The...more
7/17/2025
/ Capital Requirements ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Insurance Industry ,
Life Insurance ,
Proposed Regulation ,
Prudential Regulation Authority (PRA) ,
Regulatory Reform ,
Regulatory Requirements ,
Reporting Requirements ,
Risk Management ,
UK
On 25 February 2025, Sarah Pritchard, executive director of consumers, competition, and international at the UK Financial Conduct Authority (FCA), delivered a speech at the Investment Association Roundtable where she outlined...more
3/3/2025
/ Banking Sector ,
Disclosure Requirements ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Hedge Funds ,
Investment ,
Investment Management ,
Market Participants ,
Non-Bank Lenders ,
Private Equity ,
Regulatory Oversight ,
Regulatory Requirements ,
Risk Management ,
UK
On 1 November 2024, the UK Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) published a joint policy statement (PS 18/24) on the prudential assessment of acquisitions and increases in control. The...more
1/27/2025
/ Acquisitions ,
Banking Sector ,
Compliance ,
Corporate Governance ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Investment Funds ,
Limited Partnerships ,
Mergers ,
New Guidance ,
New Regulations ,
Private Equity ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Regulatory Requirements ,
UK
In the aftermath of the 2007-09 global financial crisis, the G20 nations committed to reforming bank remuneration frameworks in response to criticism that excessive risk-taking at banks incentivised by poorly structured pay...more
1/23/2025
/ Banking Sector ,
Banks ,
Compensation & Benefits ,
Corporate Governance ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FSB ,
Prudential Regulation Authority (PRA) ,
Remuneration ,
Risk Management ,
UK
Financial services regulators are intensifying their scrutiny of non-financial misconduct (NFM) within the financial services industry.
Related to this, the insurance marketplace Lloyd’s of London published a...more
On 21 August 2024, the Financial Conduct Authority (FCA) published Thematic Review TR24/2 (Review), as part of its on-going scrutiny of the general insurance sector, focusing on pricing and value for money provided by...more
This chapter discusses the valuation of assets and liabilities under Solvency II. Given that strategic asset allocation and investment management are key aspects of an insurer’s business, especially for life insurers, this is...more
The Bank of England’s Financial Policy Committee (FPC) and the Prudential Regulation Authority (PRA) recently delivered a series of speeches1 raising their concerns about the evolution of private equity financing and the...more
5/29/2024
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Bank of England ,
Capital Markets ,
Conflicts of Interest ,
Financial Conduct Authority (FCA) ,
Financial Policy Committee ,
Limited Partnerships ,
Private Equity ,
Prudential Regulation Authority (PRA) ,
Risk Management ,
UK
Group supervision regulates the impact that members of a Solvency II group may have on a UK Solvency II insurer. The rules governing Solvency II groups are contained in the PRA Rulebook (Group Supervision), the Solvency 2...more
In this alert we consider various reforms and proposals to the banking sector announced by UK regulators.
On 11 January 2024, HM Treasury published a consultation paper on enhancing the UK’s Special Resolution Regime for...more
In this episode of “The Standard Formula” podcast, which focuses on Solvency II developments, Skadden partner Rob Chaplin is joined by colleague Olivier Peeters to discuss the U.K.'s change in control regime for insurers and...more
UK regulators have recently announced a number of reforms for banks and other financial institutions.
- On 23 November 2023, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) (together,...more
1/8/2024
/ Banking Sector ,
Capital Requirements Regulation (CRR) ,
Cryptocurrency ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Hedge Funds ,
Holding Companies ,
Investment Firms ,
Investment Management ,
Limited Partnerships ,
New Guidance ,
Private Equity ,
Private Equity Funds ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Regulatory Reform ,
Regulatory Requirements ,
Remuneration ,
Sovereign Wealth Funds ,
UK
On 24 November 2023, the industry-led Technology Working Group of HM Treasury’s Asset Management Taskforce (Group) released an interim report (Report) outlining a strategic blueprint for the implementation of fund...more
12/5/2023
/ Artificial Intelligence ,
Blockchain ,
Cryptocurrency ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
HM Treasury ,
Innovative Technology ,
Investment Funds ,
Investment Management ,
Non-Fungible Tokens (NFTs) ,
Private Equity ,
Regulatory Requirements ,
Technology ,
Tokenization ,
UK
On 6 November 2023, the Bank of England (the UK’s central bank) issued a discussion paper on the regulation on stablecoins, alongside another paper by the UK Financial Conduct Authority (FCA) (DP23/4) and a “Dear CEO” letter...more
In a speech at the Investment Association’s Annual Dinner on 11 October 2023, Ashley Alder, chair of the UK’s Financial Conduct Authority (FCA), expanded upon the FCA’s discussion paper, “Updating and Improving the UK Regime...more
As discussed in our November 2022 and July 2023 newsletters, the UK government is implementing a comprehensive set of proposals for regulation of financial services in the UK, including for insurers. This follows the UK’s...more
Following the UK’s departure from the European Union (Brexit) on December 31, 2020, the UK is now exercising its freedom to move away from key EU insurance prudential regulatory standards. These moves include liberalization...more