On 27 March 2015, the Financial Conduct Authority (FCA) published Policy Statement (PS15/8) in order to transpose some Solvency II articles into UK rules and to harmonise existing rules with the Solvency II Directive (2009/138/EC).Although much of Solvency II concerns prudential requirements, there are areas that relate to conduct matters which fall within the FCA’s responsibility (Articles 133(3), 152 and 183-7 of the Directive). In particular, PS15/8 publishes the final rules in relation to with-profits and unit linked business.

For further information: FCA publishes policy statement on Solvency II implementation