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IAIS publishes guidance on transitioning to a risk-based solvency regime

The International Association of Insurance Supervisors (IAIS) has published guidance for supervisors on transitioning to a risk-based solvency (RBS) regime. Developed in collaboration with the International Monetary Fund (IMF), the guidance outlines practical considerations for the design and implementation of an RBS regime, drawing on the experiences of several IAIS member jurisdictions. It notes that transitioning to an RBS regime is a medium- to long-term process and highlights the importance of adapting to jurisdiction-specific legal frameworks, supervisory capacity and stakeholder engagement. The document also addresses the organisational and cultural adjustments required within supervisory authorities and the insurance sector. A public webinar will be held on 26 June 2025 to present the guidance and answer questions.

SFO’s growth push a ‘difficult line to tread’ for prosecutor

Law360, London: The Serious Fraud Office’s (SFO) recent promise to assist UK Plc with growth has raised eyebrows among former officials who question the optics of adopting political talking points that, on the surface, appear to distract from investigating and prosecuting economic crime.

ESMA launches selection process for shares and ETFs CTP

The European Securities and Markets Authority (ESMA) has launched the first selection procedure for a Consolidated Tape Provider (CTP) for shares and exchange-traded funds (ETFs). The CTP will consolidate pre- and post-trade data from trading venues into a single, continuous electronic stream with the aim of enhancing market transparency and efficiency, supporting better-informed decision-making and contributing to the Savings and Investment Union. Interested entities must register and submit their requests to participate by 25 July 2025. The selection will be based on criteria outlined in the regulated technical standards (RTS) adopted by the European Commission on 12 June 2025. The successful applicant will be appointed for a five-year term, subject to ESMA authorisation and supervision, with a final decision expected by the end of 2025.

ESMA publishes statement on supervision of sustainability reporting under ESRS

The European Securities and Markets Authority (ESMA) has published a public statement on supervising sustainability reporting under the European Sustainability Reporting Standards (ESRS). Against the backdrop of uncertainty arising from the first ESRS application, uneven transposition of the Corporate Sustainability Reporting Directive (CSRD) and the Omnibus legislative proposals, and resulting questions about the approach to supervising sustainability reporting by national competent authorities (NCAs), the statement reaffirms NCAs’ and ESMA’s ongoing commitment to promoting transparent sustainability reporting. This includes efforts to mitigate greenwashing risks while also ensuring that measures applicable to issuers are proportionate.

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If a rentcharge is shown as being informally exonerated on title information, does this apply to the

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Late payment penalties—inheritance tax

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If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal

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Can shares in a limited company that have not been paid-up at all be cancelled?

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