On 15 July 2019, the Financial Conduct Authority (FCA) published Signposting to travel insurance for consumers with medical conditions (CP19/23). CP19/23 continues the work undertaken by the FCA over the past few years on ensuring that vulnerable customers can access insurance. In June 2017 the FCA published a Call for Input on access to insurance
On 12 July 2019, the Working Group on Sterling Risk-Free Reference Rates published a letter from Tushar Morzaria, chair of the working group, to Gabriel Bernardino, EIOPA chair, encouraging EIOPA to go beyond monitoring the IBOR transition to now actively removing the recognised Solvency II barriers to this transition.
The letter expressed concerns surrounding the
On 12 July 2019, the European Insurance and Occupational Pensions Authority (EIOPA) published a consultation paper Proposals for Solvency II 2020 Review Harmonisation of National Insurance Guarantee Schemes.
Legislation has been introduced in the US House of Representatives directed at regulating virtual currency. In a post from the Norton Rose Fulbright Project Finance blog available, Deanne Barrow analyzes the bills.
Readers interested in learning more about cryptocurrency can sign up for updates on our FinTech law and regulation page.
Norton Rose Fulbright is pleased to offer you a rare opportunity to hear from some of the leading voices in risk and disruption.
We will be hosting our annual Financial Institutions Symposium in our Sydney office on Thursday 27 October 2016. Discussion will focus on current ‘Risks & Disruptors’ in the global
Encouraging innovation in financial services has been a key policy initiative of the Federal Government in recent times. In its May budget, the Treasurer announced a plan to create a technologically driven and innovation-based economy.
The Australian corporate and conduct regulator, ASIC, has driven this commitment to innovation. In April 2015, it established its ‘Innovation
Following an eight month review, ASIC has released its findings on the PI insurance market and areas of regulatory risk for AFS licensees providing financial product advice to retail clients on Tier 1 products (referred to as ‘advice licensees’).
While the availability of PI insurance cover has improved, ASIC found that not all advice licensees have adequate cover.
ASIC detected compliance issues in five key areas and signalled an intention to increase surveillance of advice licensees to monitor compliance. ASIC’s position is that these issues should be addressed by the industry.
Continued market consolidation, technology driven disruption and a shift towards behavioural based conduct regulation were the standout themes in the Australian insurance sector over the last 12 months. We take a brief look at the year that was and share our thoughts on what 2016 looks like.
Keep ahead or be left behind: rise of
Government releases its Response to FSI Final Report.
The Australian Government has released its Response to last December’s Final Report of the Financial System Inquiry or ‘Murray Inquiry’.
The Government appears to have accepted almost all of the Inquiry’s recommendations and has also proposed additional measures that are consistent with the Murray Inquiry’s underlying philosophy.