General matters relating to insurance regulation

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Brexit legislation tracker

This Practice Note tracks the progress of UK legislation introduced as part of the legislative project associated with the UK’s withdrawal from the

General principles of insurance contract law

What is insurance law?Insurance law can be split into three parts:•insurance contract law which governs the contractual relationship between insureds

Disclosure requirements for occupational and personal pension schemes—the 2013 disclosure regulations

CORONAVIRUS (COVID-19) UPDATE: In light of the coronavirus pandemic, the Pensions Regulator (TPR) issued guidance setting out reporting easements

Insurance Distribution Directive (IDD)—organisational and conduct of business requirements

BREXIT: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has

Practice notes

The Money Laundering Reporting Officer (MLRO)—duties

The roles of nominated officer and money laundering reporting officerA nominated officer is an individual who is nominated by a firm to receive...

21st Oct

In-house

Practice notes

Financial services outsourcing—post MiFID II implementation

BREXIT: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

19th Oct

Practice notes

AIFMD—the marketing of AIFs, passporting and third country provisions

BREXIT: As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

5th Oct

Practice notes

Regulated activities relating to consumer credit

This Practice Note sets out and examines the consumer credit regulated activities in the Financial Services and Markets 2000 (Regulated Activities)...

5th Oct

In-house

Practice notes

The regulation of crowdfunding platforms

This Practice Note discusses the regulatory issues faced by crowdfunding platforms from a financial services perspective. It should be read in...

5th Oct

Practice notes

Market Abuse Regulation (MAR)—essentials

BREXIT: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

1st Oct

Practice notes

MLD4 and 2017 MLRs—customer due diligence checklist for financial services firms

Brexit: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

26th Sep

In-house

Practice notes

AIFMD—essentials

BREXIT: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

26th Sep

Practice notes

Payment Services Regulations 2017—scope

BREXIT: The UK is leaving EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For...

26th Sep

Practice notes

Regulated mortgage contracts and home finance transactions defined

Background to the regulation of home finance transactionsThe regulation of home finance transactions came about at different points in time. HM...

25th Sep

Practice notes

Consumer credit: rules relating to arrears, default and recovery

Goode consumer credit materials—default and enforcementFor further discussion on the topics raised in this Practice Note, a statement of the...

25th Sep

Practice notes

MiFID II conduct of business and investor protection requirements

BREXIT: The UK is leaving the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For...

25th Sep

Practice notes

Regulated activities—exempt persons

In this Practice Note, references to exemptions relate to persons who are exempt from the need to apply for authorisation from the Prudential...

25th Sep

Practice notes

Goode on Consumer Credit—materials

Goode: Consumer Credit Law and Practice This volume contains thirteen divisions and states the current law with commentary on consumer credit in the...

25th Sep

Practice notes

Exclusions applying to several specified kinds of activity

BREXIT: The UK is leaving EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. To ensure...

25th Sep

Practice notes

Appointed representatives

This Practice Note discusses the main Financial Conduct Authority (FCA) provisions applying to appointed representatives (ARs) that carry out...

25th Sep

Most recent General matters relating to insurance regulation content

Practice notes

Insolvency of insurers

Brexit impactAs of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

25th Sep

Practice notes

Assisting in the administration and performance of insurance contracts

Background to the regulation of assisting in the administration and performance of insurance contractsUnder section 19 of the Financial Services and...

25th Sep

Practice notes

An introduction to Lloyd’s of London

What is the Lloyd’s market?The Lloyd’s market is an insurance market, whose origins date back to the seventeenth century. Merchants would meet at...

25th Sep

Practice notes

International Association of Insurance Supervisors—essentials

BREXIT: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

Produced in partnership with RPC 25th Sep

Practice notes

Anti-financial crime requirements for insurers

The Financial Conduct Authority (FCA) has statutory objectives which include the protection and enhancement of the integrity of the UK financial...

25th Sep

Practice notes

European Insurance and Occupational Pensions Authority (EIOPA)

BREXIT: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

Produced in partnership with Orrick, Herrington & Sutcliffe (Europe) LLP 25th Sep

Practice notes

Insurance Act 2015 (IA 2015)—essentials

Introduction to the Insurance Act 2015The Insurance Act 2015 (IA 2015) received Royal Assent on 12 February 2015 and, apart from Part 6 of the Act,...

Produced in partnership with Oliver Saunders of Bryan Cave Leighton Paisner LLP 26th Sep

Practice notes

The registration and regulation of friendly societies

What is a friendly society?There has been a system of registration, and with it regulation, of friendly societies since the enactment of the first...

26th Sep

Practice notes

Effecting and carrying out contracts of insurance

Background to the regulated activities of effecting and carrying out contracts of insuranceThe regulation of carrying on insurance business in the UK...

26th Sep

Practice notes

Advising on basic stakeholder products, investments, pension transfers and loan-based crowdfunding agreements

This Practice Note covers the regulated activities of providing basic advice to retail consumers on stakeholder products and of advising on:...

26th Sep

Practice notes

FCA Wholesale Insurance Market Study 2017

Terms of Reference for the Wholesale Insurance Market StudyThe Financial Conduct Authority (FCA) launched a market study (MS 17/2) into the wholesale...

26th Sep

Practice notes

Arranging deals in investments and operating multilateral and organised trading facilities

Arranging deals in investments, operating a multilateral trading facility (MTF) and operating an organised trading facility (OTF) are regulated...

26th Sep

Practice notes

Dealing in investments

Dealing as principal or as agentAuthorised persons can obtain permission to deal in investments as principal, or as agent for another. Dealing in...

26th Sep

Practice notes

Exercise of passporting rights—insurance undertakings in the EEA

This Practice Note sets out the passporting rights and related notification requirements of insurance undertakings established in the European...

26th Sep

Practice notes

General principles of insurance contract law

What is insurance law?Insurance law can be split into three parts:•insurance contract law which governs the contractual relationship between insureds...

26th Sep

In-house

Practice notes

A guide to the Consumer Insurance (Disclosure and Representations) Act 2012

Insurance contracts have always had an aura of mystery about them in the eyes of law students and lawyers. This is because they are contracts of the...

26th Sep

Practice notes

Control of insurance companies

Regulatory background to insuranceThe Financial Services and Markets Act 2000 (FSMA 2000) established a regulatory regime for the financial sector,...

26th Sep

Practice notes

Getting the Deal Through: Insurance & Reinsurance 2020

Jurisdictions coveredThe following jurisdictions are covered in this report:Austria; Canada; China; European Union; Germany; India; Italy; Japan;...

27th Sep

Precedents

Key Information Document (KID)—template

BREXIT: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

27th Sep

Q&As

Will a debenture which is not registered with the FCA under the Co-operative and Community Benefit Societies Act 2014, be void against an administrator of a co-operative society?

Community benefit societies (formerly known as industrial and provident societies)By way of background it is helpful to note that on 1 August 2014,...

28th Sep