IAIS Publishes Responses to Comments on Revisions to ICPs and ComFrame
IAIS published responses to the comments received on consultations between March 03 and June 01, 2017. These consultations are on the revision of multiple insurance core principles (ICPs), along with the ComFrame material integrated therein. In addition, IAIS also published the status and timelines for ICPs and ComFrame.
The overall ComFrame material will be published for consultation in August 2018. Revised ICPs that are related to ComFrame have been, or will be, published for information purposes. Both revised ICPs and the overall ComFrame are expected to be adopted in 2019. IAIS has received numerous comments from members and stakeholders, providing valuable input for further improvements and revisions on ComFrame integrated in the following ICPs:
- ICP 5: Suitability of Persons
- ICP 7: Corporate Governance
- ICP 8: Risk Management and Internal Controls
- ICP 9: Supervisory Review and Reporting
- ICP 10: Preventive Measures, Corrective Measures and Sanctions
- ICP 12: Exit from the Market and Resolution
- ICP 25: Supervisory Cooperation and Coordination
The document on status of ComFrame contains a table that provides up-to-date information on the status of development of the ComFrame material. It also includes information on how the elements of the 2014 draft ComFrame were, or will be, distributed among ICPs, following a decision to integrate the ComFrame material with relevant ICPs. The table on timeline for development of ComFrame and revision of ICPs provides up-to-date information on the status of the planned activity related to ICPs.
Keywords: International, Insurance, ComFrame, ICP, Timeline and Status, IAIS
Previous Article
EC Regulation and Guideline on Statistics on Holdings of SecuritiesRelated Articles
|
News
APRA Releases Minor Changes to Reporting Standards on SA-CCR for BanksAPRA released minor changes to the three reporting standards for the standardized approach for measuring counterparty credit risk exposures (SA-CCR).
May 22, 2019
WebPage
Regulatory News
|
|
News
APRA on Industry Self-Assessments into Governance and AccountabilityAPRA released an information paper analyzing the self-assessments performed by 36 of the country’s largest banks, insurers, and superannuation licensees in response to the final report on the Prudential Inquiry into the Commonwealth Bank of Australia (CBA).
May 22, 2019
WebPage
Regulatory News
|
|
News
APRA Proposes to Amend Guidance on Residential Mortgage LendingAPRA is consulting on revisions to the prudential practice guide APG 223 on residential mortgage lending in Australia.
May 21, 2019
WebPage
Regulatory News
|
|
News
IASB Proposes Improvements to IFRS 9 and IFRS 16IASB published the exposure draft ED 2019/2 that proposes amendments to four IFRS standards, including IFRS 9 on Financial Instruments and IFRS 16 on Leases.
May 21, 2019
WebPage
Regulatory News
|
|
News
ESAs Amend Technical Standards on Mapping of ECAIs Under CRRESAs published a second amendment to the implementing technical standards on the mapping of credit assessments of External Credit Assessment Institutions (ECAIs) for credit risk under the Capital Requirements Regulation (CRR).
May 20, 2019
WebPage
Regulatory News
|
|
News
OCC Consults on Information Collection for Home Mortgage DisclosuresOCC is soliciting comment on the revision of the information collection titled “Regulation C—Home Mortgage Disclosure.” OCC also notes that it has sent the collection to OMB for review.
May 20, 2019
WebPage
Regulatory News
|
|
News
OCC Report Examines Key Risks for Federal Banking SystemOCC published the Seminannual Risk Perspective for Spring 2019.
May 20, 2019
WebPage
Regulatory News
|
|
News
ESMA Updates the List of Guidelines Under Its Mandate in May 2019ESMA updated the overview of guidelines published under its mandate, with information and links to the related documents.
May 20, 2019
WebPage
Regulatory News
|
|
News
EIOPA Updates Q&A on Regulations in May 2019EIOPA published additional questions and answers (Q&A) on guidelines, directives, and regulations applicable to insurers in Europe.
May 17, 2019
WebPage
Regulatory News
|
|
News
FSB Publishes Update on Meeting of RCG for AmericasFSB published a summary of the meeting of its Regional Consultative Group (RCG) in Americas.
May 17, 2019
WebPage
Regulatory News
|
