The following Insurance & Reinsurance practice note provides comprehensive and up to date legal information covering:
On 29 August 2015, the Prudential Regulation Authority (PRA) published the PRA Rulebook (Rulebook). The transition from the Handbook to the Rulebook was intended to benefit PRA-authorised firms, to access clearer and more concise rules. Alongside the Rulebook, supervisory statements and statements of policy, facilitate a comprehensive understanding of the PRA’s requirements.
The Rulebook is divided up to cover three main sectors: banking and investment, insurance, and non-authorised persons, the first two sectors containing sub-sectors divided into directive and non-directive firms.
The Rulebook can be found here.
The three main Rulebook sectors are divided into the following sectors:
Banking and Investment Rules: Capital Requirements Firms (CRR Firms) and Non-Capital Requirements Firms (Non-CRR Firms)
Insurance Rules: Solvency II Requirements Firms (SII Firms) and Non-Solvency II Requirements Firms (Non-SII Firms)
Other Rules: Non-authorised persons
Insurers and reinsurers fall into Solvency II Requirements Firms (SII Firms) and Non-Solvency II Requirements Firms (Non-SII Firms). SII Firms insurance firms who
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Coronavirus (COVID-19): This Practice Note contains guidance on subjects potentially impacted by the government’s response to the COVID-19 outbreak. For updates on key developments and related practical guidance on the implications for lawyers, see Practice Note: Coronavirus (COVID-19)—implications
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