IN DOMESTIC NEWS...
CENTRAL BANK ISSUES NEW REQUIREMENTS IN RELATION TO SUBMITTING
COMPLIANCE STATEMENTS AND DIRECTORS' ACCURACY
CERTIFICATIONS
Pursuant to its powers under the Central Bank Act 1997, the
Central Bank has issued a notice to each Solvency II (re) insurer,
published in Iris Oifigiúil, requiring it to submit a
statement to the Central Bank confirming compliance with the
following legislation: the European Union (Insurance and
Reinsurance) Regulations 2015; the Insurance Acts (as defined
therein) and applicable European Commission Delegated Regulations
and Implementing Regulations identified as designated enactments in
section 2(2A) of the Central Bank Act 1942.
Solvency II (re)insurers are subject to this requirement from 18
August 2016. In the context of this new compliance statement
requirement, the Central Bank has issued a new "Guideline
for Solvency II (Re)Insurance Undertakings on Directors'
Certifications" (the 2016 Guideline). It
has
