Tag Archives: Brexit
On 20 December 2017, the Treasury, PRA and FCA clarified their approach to EEA-headquartered financial services firms wishing to carry on business in the UK post-Brexit. More recent evidence to the House of Commons Treasury Committee (“TC”) sheds further light on the … Continue reading
An opinion published by EIOPA on 21 December 2017 raises concerns for UK insurers who have policyholders in EEA states other than the UK. This will include, for example, every life company with annuitants living in an EEA state*, perhaps because they moved … Continue reading
Delay to IDD start date The EU Commission published draft legislation today (in the form of a proposed Directive and a proposed Delegated Regulation) to delay the IDD start date to 1 October 2018. It has agreed to requests for … Continue reading
On 14 September 2017, the UK Parliament published a letter from Nicky Morgan, Chair of the Treasury Committee, to Philip Hammond, Chancellor of the Exchequer, on insurers’ ability, post-Brexit, to service insurance contracts sold under passporting arrangements with a duration that … Continue reading
The European Union (Withdrawal) Bill was published by the Government in July 2017 and is the key piece of UK domestic legislation that will implement Brexit. Repeal of the European Communities Act: The principal purpose of the Bill is to … Continue reading
The European Insurance and Occupational Pensions Authority (EIOPA) has published an opinion on supervisory convergence in light of the UK withdrawing from the EU.
EIOPA has published an interview given by Gabriel Bernardino, EIOPA Chair, which contains comments on the implications of Brexit for the insurance industry.
Legislating for the UK’s withdrawal from the EU – the Government’s White Paper on the Great Repeal Bill
On 30 March 2017 the UK Government published its White Paper on the Great Repeal Bill: Legislating for the United Kingdom’s withdrawal from the European Union. The principal purpose of the Great Repeal Bill will be to repeal the European … Continue reading
On Wednesday 29 March 2017, the UK Prime Minister, Theresa May, gave notice under Article 50 of the Treaty on European Union (TEU)(“Article 50”) of the UK’s intention to leave the EU. This means, almost certainly, that two years from … Continue reading
The House of Commons Treasury Committee (“TC”) is looking at the case for changing, or even replacing, Solvency II in a post-Brexit world. Its inquiry provides firms and industry bodies with perhaps their best opportunity to influence the future content … Continue reading