CP15/25: Changes to the Approved Persons Regime for insurers not subject to Solvency II: reforms for larger Non-Directive Firms, feedback on CP 15/15, forms, consequentials and transitional aspects

The proposals in this CP15/25 should be considered in the context of the reforms set out in CP15/15 (Changes to the Approved Persons Regime for insurers not subject to Solvency II), and read alongside it.

Why are we issuing this Consultation Paper (CP)?

Following feedback received to CP15/15 this document:

  • sets out amendments to the arrangements for small NDFs we proposed in CP15/15
  • consults on a reformed regime for larger NDFs , and
  • consults on changes to forms necessary for the implementation of the reformed regime for all NDFs, as well as transitional arrangements for implementing the reforms

Consultation Paper 15/25 [PDF]

Who is this CP aimed at?

This consultation affects all firms with permission to effect or carry out insurance contracts that fall out of scope of the Solvency II Directive (or of the PRA rules imposing Solvency II requirements), and their approved persons.

The proposals in this CP are unlikely to be of practical relevance to approved persons of Appointed Representatives of these firms.

What are the next steps?

We want to know what you think of our proposals and welcome comments using our online response form by 12 October 2015.

Want to find out more?

For more information see: