Consultations
FSA: The Financial Services Authority has proposed rules to ‘maintain protection of policyholders with unit linked and index-linked life insurance products while taking account of new European requirements for insurers’.
New EU solvency requirements for insurers in the Solvency II directive will come into effect in 2013/14. Among its requirements are new high-level principles around how insurers’ assets, including unit-linked and index-linked funds, must be managed. This replaces the current FSA approach which lists the particular assets insurers can use.
However, where individuals bear the direct risk of investing in unit-linked and index-linked policies, Solvency II allows the FSA to continue to specify which assets can be used for such policies. The two consultations close on 15 February 2012.
Press release & links
DfE: The Department has launched a consultation (closes on 18 January 2012) with local authorities on regulations so that local authority land can be transferred more quickly when a maintained school becomes an academy.
Press release & links
WAG: The detail of how a soft opt-out system for deceased organ & tissue donation in Wales would work has been outlined by the Welsh Government - See 'In the News' section for more information.
