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Financial Institutions Reporting Requirements Insurance Industry

Skadden, Arps, Slate, Meagher & Flom LLP

UK’s Proposed New Captive Insurer Regime: Key Developments and Next Steps

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

Mayer Brown

US NAIC Spring 2025 National Meeting Highlights: Life Actuarial (A) Task Force – Asset Adequacy Testing for Reinsurance

Mayer Brown on

On March 22 and 23, 2025, the Life Actuarial (A) Task Force (LATF) met at the Spring 2025 National Meeting of the US National Association of Insurance Commissioners (NAIC) in Indianapolis, Indiana. This Legal Update reports...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Reminder: New York Cybersecurity Reporting Deadline April 15, 2025; New Regulations Effective May 1, 2025

Covered entities regulated by the New York State Department of Financial Services (NYDFS) must submit cybersecurity compliance forms by April 15, 2025. New sets of requirements for system monitoring and access privileges,...more

Skadden, Arps, Slate, Meagher & Flom LLP

Policy Updates From the UK Prudential Regulation Authority

The UK Prudential Regulation Authority (PRA) has issued significant policy updates to enhance the regulatory framework for insurers and financial institutions in the UK: - Key among these is the Policy Statement on...more

Orrick, Herrington & Sutcliffe LLP

FHA seeks comments on the proposed establishment of the optional reimbursement claim alternative mortgagee letter

Recently, FHA’s Office of Single Family Housing included on its “Drafting Table” a request for stakeholder feedback on both a draft Mortgagee Letter establishing the Optional Reimbursement Claim Alternative Option (“ORCA”)...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Standard Formula: A Guide to Solvency II – Chapter 14: The SFCR and Other Public Reporting

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

Skadden, Arps, Slate, Meagher & Flom LLP

The Standard Formula: A Guide to Solvency II – Chapter 13: Supervision

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

Mintz Edge

FinCen Publishes Final Rule on Beneficial Ownership Requirements - a Critical Step Towards Heightened Transparency in U.S....

Mintz Edge on

On January 1, 2021, Congress passed the Corporate Transparency Act (“CTA” or the “Act”) to “better enable critical national security, intelligence and law enforcement efforts to counter money laundering, financing of...more

McDermott Will & Schulte

Insurance Industry Expected to Play Major Role in Addressing Climate Change Following COP26

McDermott Will & Schulte on

The insurance industry was front and center before, during and after the first days of the United Nations’ (UN) climate change summit, Conference of the Parties (COP26), in Glasgow, Scotland, which concluded earlier this...more

Eversheds Sutherland (US) LLP

A Cybersecurity Storm and Winds of Change: NY DFS requires all New York financial institutions to report effects of SolarWinds...

The massive SolarWinds security breach, which affected not only the private sector, but federal, state and local governments, has caused some to question whether to share data with the government. On Friday, December 18, the...more

Nutter McClennen & Fish LLP

Nutter Bank Report: January 2020

The FDIC and OCC have issued new guidance for banks on heightened cybersecurity risks facing the financial services industry because of increased geopolitical tensions and threats of aggression. The guidance published on...more

Bradley Arant Boult Cummings LLP

Alabama’s Act Aimed at Prohibiting Financial Abuse of Elders – Should It Be Expanded to Cover Insurers and Insurance Agents?

Alabama’s Elder Abuse Act attempts to protect financial abuse of elders. But by not including insurance companies and insurance agents, does the Act go far enough?...more

McCarter & English, LLP

New York Department of Financial Services Cybersecurity Regulations Take Effect | Publications

PDF Version New cybersecurity-related regulations issued by New York state regulators took effect March 1, 2017. The rules, which directly impact all entities regulated by the New York Department of Financial Services (such...more

Hogan Lovells

Automatic exchange of information and insurance companies - a question of compliance

Hogan Lovells on

Automatic exchange of information (AEOI) regimes, primarily aimed at curbing tax avoidance through the use of foreign accounts and investment platforms, have recently become a global trend, starting with the adoption of the...more

Ballard Spahr LLP

FinCEN Renewal of GTOs for High-End Cash Buyers in Six Markets

Ballard Spahr LLP on

FinCEN announced today that it is renewing the existing Geographical Targeting Orders (GTOs) issued in July 2016 that require all title insurance companies to identify and report on the natural persons behind shell companies...more

Cadwalader, Wickersham & Taft LLP

New York State Revises “First-In-Nation” Cybersecurity Rules

The New York Department of Financial Services (“DFS”) recently issued a revised version of the cybersecurity rules that it first announced in the fall of last year. The rules apply to a wide range of insurance, banking, and...more

Patterson Belknap Webb & Tyler LLP

NYS Cyber Crack Down Looms: What Every Financial Institution, Insurer and Their Board Must Know

With the public comment period closing in a few days, the New York Department of Financial Services (DFS) “first in the nation” cybersecurity regulation is one step closer to becoming law. The regulation – which covers a...more

Carlton Fields

What You Must Know about New York’s Proposed Cybersecurity Regulation for the Banking, Insurance, and Financial Services Sectors

Carlton Fields on

Last week, New York’s Department of Financial Services released its long-awaited proposed cybersecurity regulation, which promises to deliver sweeping protections to consumers and financial institutions alike. The proposed...more

Eversheds Sutherland (US) LLP

FY2017 Budget Proposal Sets Its Sights on Insurance Companies

On February 9, the Obama Administration released its fiscal year 2017 budget proposal (FY2017 Budget). Many of the tax proposals included in the FY2017 Budget closely follow those included in the President’s fiscal year 2016...more

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