PRA publishes final Solvency II review reporting rules

PRA has published its final reporting and disclosure policy following its various consultations on the Solvency II review. It has also published near-final rules which will:

  • amend the External Audit, Fees and Reporting Parts of its rulebook
  • amend and transfer to the Reporting Park various disclosure templates and instructions currently contained in onshored documentation
  • update the third country branch guidelines
  • update relevant SSs and
  • create a new statement of policy on reporting waivers.

Generally, the changes will take effect from 31 December 2024.

PRA will consult later this year on transferring the remaining assimilated law requirements into PRA rules, and expects these changes also to take effect at the end of the year.

Emma Radmore