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25 February 2018

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UK lawmakers’ Solvency II wish list exceeds PRA proposals

Laura Board 7 November 2017

An influential UK parliamentary committee report on Solvency II has put UK regulator the Prudential Regulation Authority (PRA) on a tighter leash, though risks making Brexit more complicated, regulatory experts say.

Wrapping up an inquiry into the implementation of Solvency II that has spanned two successive Treasury Select Committee (TSC) sessions, UK MPs late last month called for unilateral reforms to the EU capital framework that go beyond the PRA's own proposals.

They also exceed what the UK regulator says...

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