Home / Financial Services

Legal News

IE responds to IAIS consultation on ICS comparable outcomes

Published on: 01 February 2021

Published by LNB News

LNB News 01/02/2021

Document Information

Issue Date: 01 February 2021

Published Date: 01 February 2021

Jurisdiction(s): United Kingdom

Article summary

Insurance Europe (IE) has responded to the International Association of Insurance Supervisors (IAIS) consultation on a draft definition and high-level principles for comparable outcomes to the Insurance Capital Standard (ICS). IE reiterated its support for the ICS but stressed that it should only be considered for implementation if all major jurisdictions commit to the standard, saying this is the only way to guarantee a global regulatory level playing field.

Popular documents

What is the difference between an appeal and a review?

What is the difference between an appeal and a review?What is an appeal?An appeal in insolvency proceedings is no different to an appeal in normal litigation. An appeal will be allowed only if the appeal court is satisfied that the decision of the lower court was 'wrong' or 'unjust because of a

Late payment penalties—inheritance tax

Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid

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

Can shares in a limited company that have not been paid-up at all be cancelled?A limited company having a share capital may not alter that share capital, except in the ways listed in section 617 of the Companies Act 2006 (CA 2006). Shares in a company cannot simply be cancelled without following an

Glossary—Latin legal terms

Glossary—Latin legal termsDespite attempts in recent years to simplify the language used in legal cases, there are still a number of Latin phrases commonly used in personal injury claims. The following Latin phrases are listed in alphabetical order:Latin

Legal News