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PRA modification by consent for Solvency II firms with US-parented groups

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Published on: 02 December 2024

Published by LNB News

LNB News 02/12/2024

Document Information

Issue Date: 02 December 2024

Published Date: 02 December 2024

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Prudential Regulation Authority (PRA) has published a direction for modification by consent (MbC) of rules 20.1 and 20.2 of the Group Supervision part of the PRA Rulebook for Solvency II firms. The MbC is available to PRA authorised insurance and reinsurance undertakings, the parent undertaking of which is an insurance holding company or mixed financial holding company which has its head office in the United States. The direction is effective from 31 December 2024.

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