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Generative AI Applications in Financial Services

Generative artificial intelligence (AI) is reshaping the financial services sector, moving from pilot projects into scaled enterprise adoption.  CB Insights’ latest report addresses 100 actual applications of generative Al in...more

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

Skadden, Arps, Slate, Meagher & Flom LLP

FCA Premium Finance Study: Concerns Raised but No Regulatory Changes Proposed

- 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

Mintz

Ratings Agency Announces That It Will Analyze Physical Climate Risk When Evaluating Certain Assets

Mintz on

Recently, Fitch Ratings issued a discussion paper that outlined a “contemplated framework for the analysis of physical climate risk for [Structured Finance] and [Covered Bonds] for the potential negative implications of...more

Mitchell, Williams, Selig, Gates & Woodyard,...

2025 Arkansas Insurance Legislation Summary: Life

The 95th Arkansas General Assembly convened on January 13, 2025, and entered into an extended recess on April 16, 2025...more

A&O Shearman

UK Financial Stability in Focus report: AI in the financial system

A&O Shearman on

The Financial Policy Committee (FPC) of the Bank of England (BoE) has published the Financial Stability in Focus report on AI in the UK financial system. The FPC considers the potential benefits of AI with its growing...more

Bressler, Amery & Ross, P.C.

Insurance Leaders from Various Camps Support Abolition of the Federal Insurance Office

In 2010, the Federal Insurance Office (“FIO”) was created within the United States Treasury Department by the Dodd-Frank Wall Street Reform and Consumer Protection Act, to support uniform regulation of Insurance across 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

Stikeman Elliott LLP

FSRA Proposes New Regulatory Framework for Life and Health Managing General Agents in Ontario

Stikeman Elliott LLP on

On January 28, 2025, the Financial Services Regulatory Authority of Ontario (“FSRA”) published Proposed Rule 2025-001 (the “Proposed Rule”), which builds on recent amendments to the Insurance Act (the “Act”). Those amendments...more

Cadwalader, Wickersham & Taft LLP

Quick Updates From the UK and Europe

There's been a flurry of regulatory activity in the UK and Europe over the past few weeks. Here's a look at the highlights. The EU has renewed its determination that the solvency regime for US-headquartered insurers and...more

Alston & Bird

Don’t Miss the Small Stuff Lenders: New Mexico Issues Regulatory Guidance for Completing the “Freedom to Choose” Insurance Company...

Alston & Bird on

A&B Abstract: Under New Mexico’s Insurance Code, it has been a long-standing requirement that lenders may not condition a loan of money on the procurement of insurance from any particular insurer, agent, solicitor, or...more

McDermott Will & Schulte

"Control" of Insurers: A Concept That Remains a Work in Progress

The concept of “control” of insurers received significant attention from state insurance regulators last year and will receive even more in 2023. We wrote a brief report in April 2022 following the New York Department of...more

McDermott Will & Schulte

Insurance Regulators Continue Big Data Scrutiny

We previously reported on regulators’ increased attention to the use of big data systems, including external consumer data and information sources, algorithms and predictive models. Recent announcements in Colorado, Louisiana...more

McDermott Will & Schulte

Climate Change Regulatory Update for US Insurers: April 2022

If anyone believed that the US Securities and Exchange Commission’s (SEC) release of proposed climate change-related disclosure requirements last month might have been an isolated matter, of immediate importance only to the...more

McDermott Will & Schulte

Climate Change Regulatory Update for US Insurers

After a variety of promises concerning climate change-related regulatory development activity last year, forward movement has been relatively slow. The leading exception has been the New York Department of Financial Services...more

Carlton Fields

Insurtech Regulatory Developments in Latin America

Carlton Fields on

Insurtech companies continue to expand their reach into the Latin America market, particularly in Brazil, Mexico, and Peru. Insurtech, defined as the combination of insurance and technology, develops and leverages new digital...more

Carlton Fields

As Students Return to School, Regulators Continue Their Study of the NAIC’s Suitability in Annuity Transaction Model Regulation

Carlton Fields on

At the 2018 NAIC Summer National Meeting, regulators continued their efforts to define the standard of care that applies to recommendations. This subject was discussed at both the Annuity Suitability (A) Working Group...more

Hogan Lovells

Corporate Insurance Newsletter – August 2018

Hogan Lovells on

The Hogan Lovells’ Corporate Insurance Newsletter for August has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. ...more

Carlton Fields

In The Duty Of Care Race, The NAIC Is In The Chase With New Proposed Revisions To Its Annuity Suitability Model

Carlton Fields on

On July 24, in preparation for its August 4 meeting at the NAIC 2018 Summer National Meeting, the Annuity Suitability (A) Working Group (the “Suitability WG”) peddled fast and released a working draft of proposed revisions...more

Hogan Lovells

The new policyholder protection rules - Alert 6

Hogan Lovells on

On 2 March 2018, the Financial Services Board published for comment proposed amendments to the Policyholder Protection Rules. Comments are required by 13 April 2018 and the below amended rules are envisaged to come into...more

Carlton Fields

SEC Proposes New Standards Of Conduct For Broker-Dealers And Investment Advisers

Carlton Fields on

On April 18, the SEC voted four to one to propose new standards of conduct for broker-dealers (BDs) and investment advisers (IAs)....more

Carlton Fields

State Suitability, Fiduciary Duty and Disclosure Initiatives Roundup

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States are stampeding to impose additional duties on those who provide financial advice or make recommendations to consumers. Some of these initiatives result from the states’ belief that action is required to wrangle...more

Carlton Fields

FINRA Requires Order Taker Registration

Carlton Fields on

In late 2017, FINRA pronounced in Regulatory Notice 17-30 that, "Beginning on October 1, 2018, unregistered persons cannot accept an order from a customer under any circumstances. ...more

Hogan Lovells

The new policyholder protection rules - Alert 4

Hogan Lovells on

In respect of the implementation and compliance with the next tranche of rules that must be complied with by 15 June 2018. Remember that the PPRs apply to natural persons and juristic persons whose asset value or annual...more

Carlton Fields

Fifth Circuit Vacates DOL Fiduciary Rule

Carlton Fields on

On March 15, the Fifth Circuit, in Chamber of Commerce, et. al. v. United States Department of Labor, a 46-page opinion, reversed the district court’s ruling upholding the Department of Labor (DOL) fiduciary rule and vacated...more

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