The Standard Formula Podcast | The SFCR and Other Public Reporting: A Solvency II Cornerstone
To help organizations stay on top of the main developments in European digital compliance, Morrison Foerster’s European Digital Regulatory Compliance team reports on some of the main topical digital regulatory and compliance...more
As part of the implementation of the European Markets in Crypto-Assets Regulation (MiCA), the French Financial Markets Authority (AMF) has announced its compliance with six sets of guidelines adopted by European Supervisory...more
The briefing contains a mapping exercise and analysis of the approach taken by the European Supervisory Authorities and the U.K.’s Financial Conduct Authority to address risks or concerns relating to such greenwashing. The...more
The EU’s Digital Operational Resilience Act (DORA) becomes binding on 17 January 2025. As the compliance deadline approaches, EU financial regulators (ESAs) have issued a flurry of statements on the act, including: - An...more
The Digital Operational Resilience Act (DORA) establishes a harmonised and comprehensive framework for information and communication technology (ICT) risk management in the financial sector. It is a directly applicable EU...more
The European Supervisory Authorities (European Securities and Markets Authority, European Banking Authority, and European Insurance and Occupational Pensions Authority) and the European Central Bank have published the results...more
The European Supervisory Authorities (the European Securities and Markets Authority, European Banking Authority, and European Insurance and Occupational Pensions Authority) published joint guidelines on the system for the...more
“The Standard Formula” host Rob Chaplin is joined by Chiara Iorizzo to delve into the crucial, yet complex, public reporting component of Solvency II. This episode explores the Solvency and Financial Condition Report...more
The SFCR and Other Public Reporting - Introduction - The Solvency II regime, as legislated in the Solvency II Directive and elaborated upon in Chapter XII of the EU Commission Level 2 Delegated Regulation (2015/35), is...more
1. The Supervision Regime - Proportionality - The supervision regime is built on the principle of “proportionality,” in an effort to ensure that supervision remains effective and meets its underlying purposes without...more
Undertakings in difficulty, in the context of Solvency II, refers to insurers that are either failing or likely to fail to meet their solvency capital requirement (SCR) or their minimum capital requirement (MCR) (together,...more
With the EU’s AI Act having entered into force on August 1, 2024, companies now need to focus on its implementation. Although the AI Act will not be fully enforceable until August 2, 2027, some obligations will become binding...more
The deadline is fast approaching for in-scope financial entities and their ICT service providers to conform to the EU’s new digital operational resilience regulation. With effect from 17 January 2025, a broad range of EU...more
The Irish government has been supportive of the development of the financial services sector in Ireland and this extends to fintech. The government’s strategy for the development of Ireland’s international financial services...more
Solvency II is organised around three core pillars of prudential regulation, which ensure the safety and soundness of (re)insurers, in line with the scale, nature and complexity of their business: - Pillar One focuses on...more
The European Union (EU) Artificial Intelligence Act (AI Act), Regulation (EU) 2024/1689 of the European Parliament and of the Council of 13 June 2024 laying down harmonised rules on artificial intelligence and amending...more
In this week’s edition, our focus remains on carbon credits where the first ever set of “Core Carbon Principles”-labelled carbon credits were approved. The three European supervisory authorities publish their final reports on...more
This chapter discusses and analyses the investment rules that apply to Solvency II insurers and reinsurers in the United Kingdom. In particular, this chapter will outline the “prudent person principle” and discuss the...more
Models that have historically been used by insurers to hedge risk were not designed to predict uncertain events such as natural disasters that may be exacerbated by climate change. This now leaves insurers overexposed to...more
There are useful takeaways for EU and non-EU firms arising from the European Supervisory Authorities’ (ESA) latest thinking on greenwashing. In June 2023, the ESAs issued progress reports examining greenwashing risks and...more
In progress reports to the European Commission (EC) published on June 1, 2023, the European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA) and European Securities and Markets Authority...more
The European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the European Insurance and Occupational Pensions Authority (EIOPA) (together the European Supervisory authorities or ESAs)...more
On 12 December 2022, the three European Supervisory Authorities (“EBA,” “EIOPA” and “ESMA”) published a joint advice on the review of the securitisation prudential framework....more
Le bureau Parisien de Hogan Lovells a le plaisir de vous adresser sa lettre d'information mensuelle qui vous présente les Actualités législatives et réglementaires du mois d’octobre 2022....more
Le bureau Parisien de Hogan Lovells a le plaisir de vous adresser sa lettre d'information mensuelle qui vous présente les Actualités législatives et réglementaires du mois de septembre 2022. Ces Actualités législatives et...more