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Blake, Cassels & Graydon LLP

Bill 92: Quebec Takes Another Step in Modernizing its Financial Sector Framework

With Bill 92 now adopted and enacted, this bulletin is updated to reflect the actual provisions of the Act. Bill 92, An Act to amend various provisions mainly with respect to the financial sector (2025, chapter 16)...more

Cadwalader, Wickersham & Taft LLP

Global Moves, Digital Shifts, July 2025 - UK Government Announces Programme of Regulatory Reforms

On July 15th, the UK Government published the final version of its Financial Services Growth and Competitiveness Strategy (the Strategy). The Strategy aims to “[roll] back regulation that had gone too far in seeking to...more

Hogan Lovells

UK’s Financial Services Growth and Competitiveness Strategy: Welcome news for insurers

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The UK government’s Financial Services Growth and Competitiveness Strategy published on 15 July 2025, identifies insurance/reinsurance as one of the sectors with ‘priority growth opportunities’ and as such the Strategy sets...more

A&O Shearman

UK Government publishes 10-year industrial strategy plan

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The UK Government has published a policy paper outlining its industrial strategy. The strategy centres around eight priority sectors (the IS-8), including financial services. The UK government's ambition is to establish the...more

Ballard Spahr LLP

Citing CFPB cutbacks, Pennsylvania Governor is beefing up consumer protection efforts

Ballard Spahr LLP on

Citing cutbacks at the federal level, Pennsylvania Governor Josh Shapiro has launched a new centralized consumer protection hotline, website and email address to make it easier for state residents to report allegations of...more

Blake, Cassels & Graydon LLP

Bill 92: Quebec Takes Another Step Towards Modernizing Its Financial Sector Framework

On April 8, 2025, Quebec’s Minister of Finance, Eric Girard (Minister), tabled Bill 92, An Act to amend various provisions mainly with respect to the financial sector (Bill 92), before the province’s National Assembly....more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Financial Regulation Update

The first four months of 2025 proved busy for the UK’s financial regulators, with both the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) publishing their strategy and business plan documents. As...more

Blake, Cassels & Graydon LLP

Projet de loi n° 92 : Le Québec franchit une étape de plus dans la modernisation de l’encadrement de son secteur financier

Le 8 avril 2025, le ministre des Finances du Québec, Eric Girard, a déposé à l’Assemblée nationale le projet de loi n° 92, Loi modifiant diverses dispositions principalement dans le secteur financier (le « projet de loi »). ...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Standard Formula: Encyclopaedia of Prudential Solvency – Chapter 2: The Bermuda Prudential Solvency Regime

This chapter discusses the Bermudian prudential solvency regime. Bermuda rose to prominence in the insurance and reinsurance industries in the late 1960s and early 1970s, largely due to its pioneering work in the...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Standard Formula: Encyclopaedia of Prudential Solvency – Chapter 1: The IAIS and the ICS

Established in 1994, the International Association of Insurance Supervisors (IAIS) is a voluntary membership organisation comprising insurance regulatory authorities, central banks, ministries of finance, and other...more

Mayer Brown

India Proposes to Remove Foreign Direct Investment (FDI) Limit in Insurance Sector

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India's insurance sector is poised for a major transformation following the Finance Minister of India’s February 1, 2025 announcement of a proposal to increase the FDI limit in the sector from 74% to 100%. This development...more

Conyers

Segregated Accounts Guidance Note: Key Regulatory Updates for Segregated Account Insurers

Conyers on

In July 2024, the Bermuda Monetary Authority (BMA) released its long-awaited guidance note entitled “General Business Insurers with Segregated Accounts and Separate Accounts” (the “SAC Guidance Note”) which provides the...more

K&L Gates LLP

Australia: Compensation Scheme of Last Resort (CSLR)

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Underfunded From Inception - The operator of CSLR has released the latest actuarial report commissioned on the scheme and the initial estimates of projected levies for 2025 / 26 (3rd levy period), triggering widespread...more

Conyers

Proposed Enhancements to Bermuda's Group Supervision Framework

Conyers on

On 4 December 2024, the Bermuda Monetary Authority (BMA) issued its consultation paper entitled “Proposed Enhancements to the Insurance Group Supervision Framework,” outlining regulatory updates to strengthen the BMA’s...more

Lowenstein Sandler LLP

D&O Insurance and the Regulatory Environment in Trump 2.0 Administration (Part I)

Lowenstein Sandler LLP on

In the first of two episodes, Lynda A. Bennett talks with Matt Sabino and John McKenna, managing partners at ARC Excess and Surplus; Justin Kudler, senior vice president and senior claims counsel for ARC Excess and Surplus,...more

Conyers

New Regulatory Policy on Recognition and Approval of an Actuary

Conyers on

In October 2024, the Cayman Islands Monetary Authority (CIMA) issued an updated Regulatory Policy on the Recognition and Approval of an Actuary (the “Policy”), setting out its minimum criteria and process for determining...more

A&O Shearman

Regulatory monitoring - January 2025

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1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) Germany - BaFin: Report on risks in focus 2025 (Report über Risiken im Fokus 2025) Status: Final - BaFin has published its annual report on the risks it...more

Mayer Brown

BPA Market: a Key PRA Priority for 2025

Mayer Brown on

The Prudential Regulation Authority ("PRA") has set out its 2025 expectations for UK insurers, by way of a Dear CEO Letter.  The areas are not exhaustive but do represent "thematic priorities". The themes will not come as a...more

A&O Shearman

DORA: Get ready, get set, take action

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The Digital Operational Resilience Act 2022/2554 (DORA) is a European regulation that will come into force on January 17, 2025. The regulation aims to strengthen the digital operational resilience of the financial sector...more

Latham & Watkins LLP

The Edinburgh Reforms - Where Are We Now?

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As the pace of reform increases, we take a look at key developments and the timeline ahead. Significant progress has been made on the Edinburgh Reforms since they were announced in December 2022, with developments...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Standard Formula Podcast | The Edinburgh Reforms: Big Bang 2.0 or Thoughtful Change?

In this episode of “The Standard Formula” podcast, host Robert Chaplin is joined by investment management partner Greg Norman to discuss the Edinburgh Reforms, which serve as the UK’s most significant divergence to date from...more

White & Case LLP

Mexico: New defense procedure against inclusion in Blocked Persons List

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On March 11, 2022, a reform to the Mexican Banking Law (Ley de Instituciones de Crédito) was published in the Federal Official Gazette (Diario Oficial de la Federación) in order to provide a new procedure for the defense of...more

Herbert Smith Freehills Kramer

Congress Considers Additional Refinements to Dodd-Frank, Addressing Duplicative Regulation of Insurers and Thrift Holding...

On March 7, 2018, the Housing and Insurance Subcommittee of the U.S. House of Representatives Committee on Financial Services heard testimony on the issue of duplicative regulation of insurers that are also savings and loan...more

Hogan Lovells

Twin Peaks - Is it all uphill from here?

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The Financial Sector Regulation Bill - The Financial Sector Regulation Bill (the Bill), currently before parliament, is the first phase in implementing the Twin Peaks Retail Distribution Review (RDR) model, which...more

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