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ARTICLE · 11 MAY 2010

Corporate Insurance, Regulatory Upate - FSA Policy Documents

Clyde & Co
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In CP10/10 the FSA invites comments on miscellaneous amendments to the FSA Handbook.

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Geraldine Quirk
Geraldine Quirk
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CP 10/10: Quarterly Consultation No. 24

6th April 2010

In CP10/10 the FSA invites comments on miscellaneous amendments to the FSA Handbook. It proposes amendments to, inter alia:

  • The General Prudential sourcebook (GENPRU) to recognise an obligatory deduction from core Tier 1 capital and amend the clarifying guidance.
  • The Insurance Prudential sourcebook (INSPRU) in relation to rules on the valuation of reinsurance cash flows when calculating mathematical reserves.
  • The Conduct of Business sourcebook (COBS) to propose that, before approving promotions for an overseas person, a firm is required to take reasonable steps to ensure that the overseas person will deal with retail clients in the UK in an honest and reliable way.

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