The PRA's new policy on solvent exit planning for insurers aims to ensure orderly market exits. Applicable to most UK insurers, it requires them to develop and implement Solvent Exit Analyses and, when necessary, detailed Execution Plans. The policy comes into effect on June 30, 2026.
The PRA’s proposals aim to enhance safety, soundness, and policyholder protection by collecting timely, accurate data on operational incidents. This data will improve monitoring, support industry feedback, and help address vulnerabilities and emerging risks, bolstering operational resilience across the sector.
This working paper analyzes whether the #boe has a legal obligation to adjust #capitalrequirements for #financialinstitutions in response to the #climatecrisis. The paper argues that the BoE, as a public authority, must abide by the #humanrights obligations set out in the European Convention on Human Rights, which are deeply intertwined with climate concerns.
"The Bank of England has fined Metro Bank (MTRO.L) 5.38 million pounds ($7.13 million) for failures in its regulatory reporting, it said on Wednesday, after the lender revealed an accounting blunder in 2019."
"The Bank of England said on Monday it was fining Standard Chartered (STAN.L) 46.55 million pounds ($61.51 million) for misreporting its liquidity position to the regulator and for failings in its controls."