The European Commission has launched a consultation on a draft delegated decision concerning the provisional equivalence for third-country insurers within groups headquartered in the EU, in accordance with Article 227 of Directive 2009/138/EC (Solvency II Directive). The Commission proposes that such groups may calculate their solvency requirements and eligible own funds using the capital requirements and available capital rules of their non-EU jurisdiction, rather than solely pursuant to Solvency II. Responses are sought by 3 July 2025, with the intention that the feedback will be considered in finalising the draft decision ahead of its planned adoption in Q3 2025.

ARCHIVED: This timeline is archived and is no longer maintained. For key developments relating to the EU’s Solvency II framework (Directive 2008/138/EC), see EU Solvency II—timeline. For key developments relating to the UK's Solvency II regime, see Solvency UK—timeline. 2023 Date Source Document Description 20 December 2023 Official Journal REGULATION (EU) 2023/2859 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 13 December 2023 establishing a European single access point providing centralised access to publicly available information of relevance to  financial services, capital markets and sustainabilityDIRECTIVE (EU) 2023/2864 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 13 December 2023 amending certain Directives as regards the establishment and functioning of the European single access point Regulation (EU) 2023/2859 establishing a European Single Access Point (ESAP) providing centralised access to publicly available information of relevance to  financial services, capital markets and sustainability and Directive (EU) 2023/2864 amending certain Directives as regards the establishment and functioning of the ESAP was published in the Official Journal of the EU.LNB News 20/12/2023 29. 19 December 2023 PRA PS19/23—Responses

This timeline shows key developments relating to the Solvency UK regime. For earlier developments see: Solvency II—timeline (2007–2023) [Archived]. 2026 Date Source Document Description 3 August 2026 PRA 3 August 2026 — Modification by consent Rule 2.3 (4) for run-off firms that wrote general insurance, credit and suretyship The Prudential Regulation Authority (PRA) has published a modification by consent (MbC) of Rule 2.3(4) for run-off firms that wrote general insurance, credit and suretyship.See: PRA publishes modification by consent for run-off firms that wrote general insurance, credit and suretyship. 29 July 2026 PRA PS18/26 — Solvency UK: Post-implementation reporting and disclosure amendments and Own Funds permissions update The PRA has published policy statement PS18/26—Solvency UK: Post-implementation reporting and disclosure amendments and Own Funds permissions update. It provides the PRA’s feedback on responses to consultation paper CP22/25—UK Solvency II reporting and disclosure: Post-implementation amendments, and to Proposal 1 of CP4/26—UK Solvency II Own Funds: Updates and fixes to rules and expectations. It also sets out the PRA’s final policy in respect of both consultations.See: Solvency UK: PRA publishes

This Practice Note provides an overview of the structure and legislative framework of Solvency UK. It explains the UK’s implementation of Directive 2009/138/EC (the Solvency II Directive), the implications of the UK’s withdrawal from the EU and the development of the post-Brexit Solvency UK regime, including links to relevant UK legislation and Prudential Regulatory Authority (PRA) rules and related PRA policy materials. For more information about the Solvency UK framework, see Practice Notes: Prudential requirements for UK insurers—introduction, Prudential requirements for UK insurers—Pillar 1 requirements and Prudential requirements for UK insurers—Pillar 2 and Pillar 3 requirements. For a chronological tracker of the development and implementation of the Solvency UK framework, see: Solvency UK—timeline. The requirement for transposition and implementation The Solvency II Directive as amended, in particular by Directive 2014/51/EU (Omnibus II), came into effect on 1 January 2016. Member States were required to bring into force the domestic provisions necessary to comply with specified articles of the Solvency II Directive by 31 March 2015, and to have made those instruments applicable

[insert date] To: [insert full name and address of lender] Dear [insert full name of lender] I am a director and the [Chief Financial Officer OR Finance Director] of [insert full name of borrower], a company incorporated in England and Wales with registered number [insert company number]

[insert date] To: [insert full name and address of lender] Dear [insert full name of lender] I am a director and the [Chief Financial Officer OR Finance Director] of [insert full name of guarantor/third party security provider], a company incorporated in England and Wales with registered number [insert company number] whose registered office is at [insert address]

It is a fundamental rule of English company law that a limited company having a share capital must maintain that capital. Therefore, a company must not reduce its capital, except as prescribed by law. This capital maintenance rule is intended to protect a company’s creditors by ensuring that the assets representing the capital of a company remain available to them for future recourse. There are provisions in the Companies Act 2006 (CA 2006) governing how a limited company may reduce its capital. The restrictions in CA 2006 relating to reductions of capital do not apply to unlimited companies. For further information on this type of company, see Practice Note: Unlimited companies. The focus of this Practice Note is on reductions of capital in accordance with CA 2006, Pt 17, Ch 10, in particular, those carried out by a special resolution supported by a solvency statement (the solvency statement procedure) rather than those carried out by a special resolution confirmed by court order (the court procedure). In accordance with CA 2006, any limited

This Flowchart illustrates the process to be followed by a private company limited by shares in order

It is a fundamental rule of English company law that a limited company having a share capital must maintain that capital. Therefore, a company must not reduce its capital, except as prescribed by law. This capital maintenance rule is intended to protect a company’s creditors by ensuring that the assets representing the capital of a company remain available to them for future recourse. There are provisions in the Companies Act 2006 (CA 2006) governing how a limited company may reduce its capital. The restrictions in CA 2006 relating to reductions of capital do not apply to unlimited companies. For further information on this type of company, see Practice Note: Unlimited companies. The focus of this Practice Note is on reductions of capital in accordance with CA 2006, Pt 17, Ch 10, in particular, those carried out by a special resolution supported by a solvency statement (the solvency statement procedure) rather than those carried out by a special resolution confirmed by court order (the court procedure). In accordance with CA 2006, any limited company

Company number: [insert number] [insert company name] LIMITED (the Company) SOLVENCY STATEMENT We, being all of the directors of the Company, make this solvency statement on [insert date] for the purposes of section 642 of the Companies Act 2006 and each

MLex: Microsoft’s Bing, Edge and its advertising business, as well as Apple’s chat service iMessage, have avoided stiff new platform restrictions after the European Commission (the Commission) decided they weren’t significant enough to be caught by the EU's Digital Markets Act (DMA). In practice, that means that Microsoft will still be able to set Bing and Edge as the default search engine and browser in Windows, and that it will be subject to less strict rules on advertising transparency.

FORTHCOMING CHANGE: Further to the Government's response to the Ministry of Justice’s and Office of the Public Guardian (OPG)’s consultation Modernising Lasting Powers of Attorney, the Powers of Attorney Bill received Royal Assent on 18 September 2023, becoming the Powers of Attorney Act 2023 (PAA 2023). PAA 2023 will introduce changes to the Mental Capacity Act 2005 (MCA 2005) to create a more modern lasting power of attorney (LPA) service. The changes will include: (i) introducing regulations to allow those involved in making an LPA to select whether to sign the LPA digitally or on paper; (ii) removing the ability for attorneys to register an LPA so that only the donor will be permitted to register; (iii) introducing regulations governing identification verification requirements in relation to registration applications; (iv) providing for a single route for registration objections to the OPG and widening the group of people who can lodge an objection to include third parties and not just those named in the LPA; and (v) making the notification of named persons that