Featured Product

    BaFin Published the BaFin Journal for September 2017

    September 01, 2017

    BaFin published the September edition of its BaFin Journal, which contains expert articles, interviews, and reports on key national and international supervisory issues as well as official announcements by the Directorate of Insurance Supervision. The key expert articles this month covered topics such as the scope of application of insurance-based investment products, robo-advice, extended field testing of insurance capital standard (ICS), and internal models for Solvency II.

    Insurance-based investment products and the scope of application on the German market. With the second Markets in Financial Instruments Directive (MiFID II), the Insurance Distribution Directive (IDD), and the regulation on key information documents for packaged retail and insurance-based investment products (PRIIPs), European legislators have introduced a new technical term to insurance law—that is, the insurance-based investment product or IBIP. This introduction takes account of the fact that life insurance contracts not only serve to cover biometric risks but frequently also contain an investment component, associated with risks and opportunities, which is intended to offer a value to policyholders in the events of both death and survival.


    Robo-advice, an automated investment advice in supervisory practice. The automated distribution of financial instruments and similar digital services—also known as robo-advicegenerally meet the definition of investment advice. This article is intended to help providers assess whether they meet the definition of investment advice. The article follows this standard procedure based on the three typical steps of "exploration," "recommendation," and "content of the recommendation"; it also explains the definition of investment advice using practical examples.


    International insurance groups: Publication of extended field testing of global capital standard. IAIS has been conducting field testing exercises once a year since 2015 to test various parameters of the planned capital standard.  IAIS published the first version of the standard to be tested in extended field testing (insurance capital standard or ICS Version 1.0 for extended field testing). It hopes that this will provide helpful information and suggestions for the further development of ICS Version 2.0. The standard is to be finalized by the end of 2019 and is expected to be implemented internationally from 2020 onward.


    Frank Grund’s views on internal models. One of the most substantial new developments under Solvency II is that undertakings can decide whether they determine their solvency capital requirements using the standard formula orwith BaFin's approval—the internal models. This article highlights the views of Frank Grund, Chief Executive Director at BaFin; he explains the advantages of internal models, the challenges associated with them, and his expectations regarding internal models.

     

    Related Links

    BaFin Journal (PDF in German)

    Expert Articles

    Keywords: Europe, Germany, Insurance, Solvency II, Internal Models, ICS, Investment Advice, Expert Articles, MiFID II, IBIP, BaFin

    Featured Experts
    Related Articles
    News

    EBA Single Rulebook Q&A: Second Update for September 2019

    EBA updated the Single Rulebook question and answer (Q&A) tool with answers to three questions.

    September 13, 2019 WebPage Regulatory News
    News

    PRA Revises Branch Return and Updates Guidance for Regulatory Reports

    PRA published the policy statement PS17/19, which contains the final policy related to changes in the format and content of the Branch Return Form and reporting guidance.

    September 12, 2019 WebPage Regulatory News
    News

    FINMA Outlines Treatment of Stablecoins in Supplement to Guide on ICO

    FINMA published a supplement to its initial coin offerings (ICOs) guidelines, outlining the treatment for stablecoins under the Swiss supervisory law.

    September 11, 2019 WebPage Regulatory News
    News

    FCA and BoE Issue Updates on Brexit Preparations for Financial Sector

    FCA and BoE published important information to help regulated firms in preparing for Brexit.

    September 11, 2019 WebPage Regulatory News
    News

    Ursula von der Leyen Presents Structure of Next European Commission

    President-elect Ursula von der Leyen has presented her team and the new structure of the next European Commission.

    September 10, 2019 WebPage Regulatory News
    News

    FED Proposes to Revise and Extend Reporting Form on Systemic Risk

    FED proposed to extend for three years, with revision, the Banking Organization Systemic Risk Report (FR Y-15; OMB No. 7100-0352).

    September 10, 2019 WebPage Regulatory News
    News

    EBA Issues Revised List of Validation Rules for Reporting

    EBA published the revised list of validation rules (version 2.9) in its implementing technical standards on supervisory reporting.

    September 10, 2019 WebPage Regulatory News
    News

    Bundesbank Publishes Supplementary Validation Rules for Reporting

    Bundesbank published the updated document containing supplementary validation rules in the context of the implementation of the reporting system at national level.

    September 10, 2019 WebPage Regulatory News
    News

    APRA Licenses Xinja Bank as Authorized Deposit-Taking Institution

    APRA granted Xinja Bank Limited a license to operate as an authorized deposit-taking institution without restrictions, under the Banking Act 1959.

    September 09, 2019 WebPage Regulatory News
    News

    FDIC Proposes Revisions to Regulations on Interest Rate Restrictions

    FDIC proposed revisions to its regulations covering interest rate restrictions that apply to less than well-capitalized insured depository institutions.

    September 09, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3806