Competition Commission releases emerging thinking on investigation into payment protection insurance.
On 6 November 2007 the Competition Commission (CC) released its Emerging Thinking on the investigation into the Payment Protection Insurance (PPI) market. This is the latest stage in the CC investigation that began on 7 February 2007 when the Office of Fair Trading referred the sector to the CC.
The impact of MiFID in the FSA's new rulesIn this FS Bulletin we review the contents of the two FSA Consultation Papers incorporating changes required by MiFID and outline the key actions for senior management.
FSA proposes £16bn reduction in insurers' reserves and capital requirementsOn 18 September the FSA issued a consultation paper (CP 06/16) which proposes prudential changes for insurers. The CP focuses on proposals affecting life insurers’ reserving and capital requirements, in particular looking at ways of extending ‘economic realism to the prudential regulation of all life insurance firms. This Bulletin considers the implications of the proposals, dealt with in chapter 2 of the CP, in more detail.
The OFT sets out its early thoughts on the Payment Protection Insurance market investigationThis bulletin is the first in a series following the progress of this market study. It looks at the key issues being raised and gives some thought to what firms might wish to consider in their responses.
FSA proposals for insurance special purpose vehicles
We summarise the FSA’s proposals (now formalised in CP06/12) and look at whether, based on discussion at a recent PwC roundtable on insurance securitisation, they are capable of meeting the FSA’s aims.
MiFID—the Markets in Financial Instruments Directive
MiFID is a complete rewrite and updating of the Investment Services Directive (ISD) and the subject of our latest
UK FS bulletin.
CP04/17: Implications of a changing accounting frameworkOur latest FS Bulletin provides a summary of their latest thinking, including: Defined benefit pension schemes and Transitional arrangements.
Financial crime: Are you prepared?The FSA recently held a one day conference on fraud and money laundering which set out the FSA's vision of how it intends to address the wider aspects of financial crime in the companies that it regulates.
Tough on softingThe FSA has issued its Policy Statement on Consultation Paper ('CP') 176 'Bundled Brokerage and Soft Commission Arrangements'.
EU Risk Based Capital Directive CAD3The European Commission issued its third and final consultative paper on the Risk Based Capital Directive (CAD 3) in July. CAD 3 will implement the Basel Accord in the EU capital adequacy framework and will, unlike Basel, also apply to investment firms as well as all banks. This financial services bulletin addresses the implications of CAD3 and looks at the differences between the Basel and the EU framework.
Basel CP3 and QIS 3: The final phase!CP3 is a key milestone for banking institutions and confirms the Basel timetable for the end of 2006. PwC addresses the changes with the issuance of CP3, and implementation issues and results and lessons of the Quantative Impact Study, QIS 3, to help individual institutions with decisions about what approach to adopt in this new FS bulletin.
CP204: Consolidated supervision: More problems for groupsPricewaterhouseCoopers LLP has now launched the latest financial services bulletin entitled CP204: Consolidated Supervision - more problems for groups.
CP202: A new regulatory return for insurers
This bulletin provides a summary of the key changes set out in the recently published Consultation Paper 202 (CP202).
DP24: Liquidity risk: New requirements get clearer and closer
PricewaterhouseCoopers LLP has now launched the latest financial services bulletin entitled DP24: Liquidity Risk - New requirements get clearer and closer.
CP190: A new capital regime for non-life insurers
The FSA published Consultation Paper 190 (CP190), which sets out its proposal in respect of enhanced capital requirements and individual capital assessments for non-life insurers. To order a hard copy of the publication please contact Elaine Hobson in our London office on +44 (20) 7213 4129.
CP195 - A new capital regime for life insurers
This paper is a summary of CP195 which has recently been released by the FSA. CP195 addresses reserving and capital requirements for life insurers and will have a significant effect on life companies. To order a hard copy of the publication please contact Elaine Hobson in our London office on +44 (20) 7213 4129.
Update on latest Basel developments and new Quantitative Impact Study
A summary update, this bulletin provides the latest Basel developments and the new Quantitative Impact Study.
Implications of the revised approach to finalising the new Basel Accord
The Basel Committee on Banking Supervision (Basel) has said that the next consultative paper on the new capital adequacy framework (CP 3) will not be issued in early 2002 as previously announced. This is to allow for additional review, quality assurance and a further quantitative impact study (QIS). This delay is to allow Basel to make CP 3 the almost final version of the Accord.
The EU releases Draft Directive on Capital Requirements: December 2002
The EU has released an advance draft of its directive reforming the EU capital framework, to be known as CAD 3. It follows the launch of the third Quantitative Impact Study (QIS3) by the Basel Committee on Banking Supervision last October and the release of a working paper on the treatment of asset securitisation. These events represent major steps going forward in reforming the EU, and Basel's capital frameworks implementation will represent an important challenge for our clients. The EU proposals will also affect domestic banks, investment firms and asset managers that are not subject to Basel, but make them subject to Basel-type requirements with some important modifications.
Update on latest Basel developments and new Quantitative Impact Study
A summary update, this bulletin provides the latest Basel developments and the new Quantitative Impact Study.
Basel FS bulletin: August 2002
The Basel FS Bulletin reviews the UK FSA's proposals for implementing Basel II and the EU legislation that will give it effect through the Prudential Sourcebook.
