Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 10 JULY 2023

IAIS Solicits Feedback On Capital Standard, Relaxes Requirements On Callable Instruments

Herbert Smith Freehills Kramer LLP
Herbert Smith Freehills Kramer LLP
Contributor
Herbert Smith Freehills Kramer LLP

Herbert Smith Freehills Kramer LLP

We have one of the largest Southeast Asia international law practices, working across the region...

View firm profile
Explore more from Herbert Smith Freehills Kramer LLP

Large insurers that operate across national borders should consider recent guidance on capital standards from the International Association of Insurance Supervisors (IAIS), in particular on the kinds of instruments...

United StatesFinance and Banking
Daniel Rabinowitz
Daniel Rabinowitz
Author LinkedIn connections

Large insurers that operate across national borders should consider recent guidance on capital standards from the International Association of Insurance Supervisors (IAIS), in particular on the kinds of instruments that make up permitted capital. In a Consultation Document (CD) issued on June 23, 2023 (available here), the IAIS seeks input from stakeholders on the global Insurance Capital Standard (ICS) ahead of its implementation as a prescribed capital requirement (PCR). Although the guidance — intended for internationally active insurance groups, or IAIGs — is largely unchanged from "ICS Version 2.0," adopted in 2019, there are some departures. One of these is a liberalization of the circumstances in which a callable financial instrument can be used to constitute capital at an IAIG.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

SEC Advances “Responsible Retailization” Through A Potential Accredited Investor Exam And Potential Regulated Fund Reforms

On September 30, 2026, the Securities and Exchange Commission (SEC) issued two rule proposals and five notices aimed at expanding investors’ access to private markets. The package would add ways to qualify as an accredited investor, including passing a new exam administered by the Financial Industry Regulatory Authority (FINRA), broaden performance-based compensation and modernize regulated funds, including interval funds and business development companies (BDCs).
United StatesFinance and Banking
Proskauer Rose LLP
Proskauer Rose LLP
Article

OCC Issues Examiner Framework For Banks’ Use Of Artificial Intelligence

The Office of the Comptroller of the Currency has released a new framework for evaluating banks' deployment of artificial intelligence and agentic AI systems in their business operations. This guidance establishes how examiners will assess AI through existing risk management disciplines rather than creating separate regulatory requirements, with review intensity scaled to each use case's potential consequences and level of human oversight.
United StatesFinance and Banking
Sheppard
Sheppard
Article

SEC Proposes Rule Amendments To Expand Retail Access To Private Markets

The SEC has proposed sweeping amendments to expand retail investor access to private market strategies, including changes to performance-based compensation rules for registered investment advisers and modernization of the interval fund framework. The proposals also explore new credential-based pathways for individuals to qualify as accredited investors, potentially opening private offerings to a broader pool of eligible participants.
United StatesFinance and Banking
Duane Morris LLP
Duane Morris LLP
Article

SEC Approves FINRA’s New “Outside Activities” Rule

The Securities and Exchange Commission has approved FINRA Rule 3290, which will replace existing rules governing outside business activities and private securities transactions for registered persons. This new rule narrows the scope to focus on investment-related activities while maintaining similar supervisory obligations for member firms. Understanding the key changes and implementation requirements will be critical for broker-dealers as they update their compliance policies and procedures.
United StatesFinance and Banking
WilmerHale
WilmerHale
Article

Trump Administration Waives New Russia Sanctions And Tariffs Under Graham Act

President Trump issued an executive order implementing the Graham Act, which establishes substantial new tariffs on Russian goods and countries purchasing Russian energy, but simultaneously waives their application. The order creates a monitoring framework that leaves open the possibility of future enforcement while maintaining existing Russia sanctions regimes.
GlobalInternational Law
Herbert Smith Freehills Kramer LLP
Herbert Smith Freehills Kramer LLP
Article

OFAC Expands Cuba Sanctions And Tightens Financial And Travel Restrictions

The U.S. Treasury's Office of Foreign Assets Control has implemented sweeping changes to Cuba sanctions, establishing a new regulatory framework that targets foreign persons and financial institutions while significantly restricting previously authorized activities. These measures create potential sanctions exposure for non-U.S. businesses and banks conducting Cuba-related transactions, fundamentally altering the compliance landscape for international financial intermediaries.
GlobalGovernment, Public Sector
Herbert Smith Freehills Kramer LLP
Herbert Smith Freehills Kramer LLP