PRA publishes ‘milestone' paper on managers' oversight
The Prudential Regulation Authority has published the scope of its senior managers regime for Solvency II insurers with guidelines on how the regime will apply to non-executive directors to be published later in the year.
The rules will come into force on 7 March 2016 with some aspects of the senior insurance managers regime applying from 1 January 2016 in order to fit with Solvency II.
Andrew Bailey, Bank of England
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