Featured Product

    IAIS Publishes Status and Timelines for ICPs and ComFrame

    October 19, 2017

    IAIS published the status and timelines for insurance core principles (ICPs) and the Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame).

    The ComFrame update 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 timeline and status for ICPs contains a table that provides up-to-date information on the status of the ICPs, including any ongoing or planned revisions. For ongoing revisions, next to the status, the links to the revised versions have been also provided, where applicable. ICP 23 on group-wide supervision is expected to be published for consultation in mid-2018, as part of the consultation on the overall ComFrame.

    The Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame) is a set of international supervisory requirements focusing on the effective group-wide supervision of internationally active insurance groups (IAIGs). ComFrame is built and expands upon the high level requirements and guidance currently set out in the IAIS ICPs, which generally apply on both a legal entity and group-wide level. ICPs are the globally accepted requirements for the supervision of the insurance sector. They are structured to allow a wide range of regulatory approaches and supervisory processes to suit different markets and the range of insurance entities and groups operating within these markets.

     

    Keywords: International, Insurance, ComFrame, ICPs, Timeline and Status, IAIS

    Related Articles
    News

    EBA Report on MREL Shows Progress in Resolution Planning

    EBA published the first quantitative report taking stock of the increased capacity of minimum requirements for own funds and eligible liabilities (MREL) in EU.

    February 17, 2020 WebPage Regulatory News
    News

    ESMA Updates Q&A on Credit Rating Agencies Regulation

    ESMA updated questions and answers (Q&A) document on the Credit Rating Agencies (CRA) Regulation.

    February 17, 2020 WebPage Regulatory News
    News

    EC Announces Funding for Sustainable Finance Project in France

    EC announced an investment for the latest projects, including a project on sustainable finance, under the LIFE program for the environment and climate action.

    February 17, 2020 WebPage Regulatory News
    News

    FDIC Releases Economic Scenarios for Stress Testing in 2020

    FDIC released the hypothetical economic scenarios for use in the upcoming stress tests for covered institutions with total consolidated assets of more than USD 250 billion.

    February 14, 2020 WebPage Regulatory News
    News

    EBA Acknowledges EC Adoption of Amended Supervisory Reporting Standard

    EBA acknowledged the adoption, by EC, of an Implementing Act with regard to the common reporting (COREP) and financial reporting (FINREP) changes, in accordance with the Capital Requirements Regulation or CRR.

    February 14, 2020 WebPage Regulatory News
    News

    APRA and ASIC Welcome Proposed Reforms for Superannuation Sector

    APRA and the Australian Securities and Investments Commission (ASIC) have jointly welcomed the proposed legislative reforms increasing the role of ASIC in the superannuation sector.

    February 14, 2020 WebPage Regulatory News
    News

    ESMA Responds to EC Consultation on Review of Benchmarks Regulation

    ESMA published its response to EC consultation on review of the Benchmarks Regulation in EU.

    February 14, 2020 WebPage Regulatory News
    News

    OSFI on Guide and Form for Replicating Portfolio Information Summary

    OSFI revised the instruction guide and form related to filing the Replicating Portfolio Information Summary.

    February 14, 2020 WebPage Regulatory News
    News

    FFIEC Publishes Guide to HMDA Reporting for Data Collected in 2020

    FFIEC issued the 2020 edition of guide to Home Mortgage Disclosure Act (HMDA) reporting for the data collected in 2020 and reported in 2021.

    February 13, 2020 WebPage Regulatory News
    News

    ISDA Guide on Smart Contracts for Equity and Interest Rate Derivatives

    ISDA has published the fourth and fifth installments in a series of legal guidelines for smart derivatives contracts.

    February 13, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 4687