GC21/3: Proposed changes to guidance on the FCA’s approach to the review of Part VII insurance business transfers

Consultation opens
08/07/2021
08/07/2021
Consulatation closes
31/08/2021

We are consulting on proposed updates to our Finalised Guidance, FG18/4: The FCA’s approach to the review of Part VII insurance business transfers, which was initially published in May 2018.

Read GC21/3 (PDF)

Why we are consulting 

In this consultation, we propose to update the FCA Finalised Guidance, FG18/4: The FCA’s approach to the review of Part VII insurance business transfers (FG18/4), which was initially published in May 2018. Since then, the regulatory landscape has changed following the UK’s exit from the EU. We are also proposing to amend the guidance following our experience with it on a diverse range of Part VII transfers and feedback from stakeholders, with the aim of clarifying our expectations on Part VII transfers. 

Who this applies to 

This guidance will be of interest to:

  • insurance firms considering Part VII Transfers and their professional advisors
  • independent experts usually appointed by the Applicants to report to the High Court on the terms of the Scheme
  • the Court
  • affected policyholders 

Next steps 

You can send your response by email to [email protected] 

We’re asking for feedback on this consultation by 31 August 2021.