Summary of regulatory developments Updates for July 2022

This report reviews regulatory updates in July for life insurance companies. We include items published by the European Supervisor Authorities (ESAs), European Insurance and Occupational Pensions Authority (EIOPA), Prudential Regulation Authority (PRA), and Financial Conduct Authority (FCA), with details for each agency, such as: 

• ESAs issue a report on the extent of voluntary disclosure of principal adverse impact 
• EIOPA publishes its Q&A on regulation and a peer review on outsourcing.
• The PRA publishes PS6/22, “Solvency II: Definition of an insurance holding company.”
• The FCA’s Consumer Duty will lead to a major shift in financial services.