FSB applies key attributes to insurers
On 12 August 2013, the Financial Stability Board (FSB) issued proposed guidance on the application of the key attributes of effective resolution regimes for financial institutions to non-bank financial institutions. Comments on the proposed guidance are due to the FSB by 15 October 2013.
The proposed guidance contains three new appendices that supplement the key attributes for the resolution of financial market infrastructures (Appendix I), insurers (Appendix II) and financial firms that hold client assets (Appendix III). This client update focuses on Appendix II, the application of the key attributes to insurers. The key attributes are part of the response of the G-20 and the FSB to identify global systemically important financial institutions and to mitigate the risks these institutions pose to the global economy. One aspect of this effort is to facilitate the co-ordinated resolution, under a common set of goals and principles, of firms active in multiple jurisdictions.
Consistent with the analytical approach of the FSB and the International Association of Insurance Supervisors (IAIS) for the designation and regulation of global systemically important insurers (G-SIIs), this proposed guidance focuses on perceived risks arising from the resolution of insurance groups engaged in non-traditional and non-insurance activities…
If you are registered and logged in to the site, click on the link below to read the rest of the Debevoise & Plimpton briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from The Lawyer
Briefings from Debevoise & Plimpton
This client update focuses on the examination priorities that are most relevant to investment advisers to private equity and hedge funds.
Debevoise & Plimption has published its FCPA Update for January 2013. The lead article concerns anti-corruption compliance in 2013.
Analysis from The Lawyer
Shell legal director Peter Rees is switching litigation control away from external counsel to a unified global team of in-housers