20 April 2014

Stuart Clark

Stuart Clark - Impendium Systems

260 | posts 306,312 | views 0 | comments

Financial Services Regulation

This network is for financial professionals interested in staying up to date on financial services regulation happening anywhere in the world. CFOs, bankers, fund managers, treasurers welcome.

PRA publishes feedback on Solvency II data collection

25 February 2014  |  553 views  |  0

In May 2013, the Prudential Regulation Authority (PRA) sent targeted data collection requests to all internal model approval process firms.  The PRA has now published feedback on its webpage on the data collection exercises, which covers:

• comparison of individual capital assessment, standard formula solvency capital requirement (SCR), and internal model SCR – the quality of data was generally considered good;

• standardised risk information – the quality of data varied between life and general insurers where incomplete submissions and submissions with obvious errors were common;

• the credit benchmark portfolio survey – no comment on data quality; and

• the stochastic simulations survey – no comment on data quality. 

The PRA intends to repeat the data request to internal model firms in the second quarter of 2014.  It encourages firms to respond positively to future data requests, use the comments and feedback to improve the quality of data and improve their assessment of insurance risk.  In addition, life insurers should specifically prepare for ring-fenced fund reporting in Solvency II. 

Related link:

http://www.bankofengland.co.uk/pra/Pages/solvency2/preparing.aspx

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Latest posts from Stuart

ESMA sets out supervisory monitoring of TRs under EMIR

17 April 2014  |  361 views  |  0  |  Recommends 0 GroupFinancial Services Regulation

FCA publishes Hedge fund report

15 April 2014  |  356 views  |  0  |  Recommends 0 GroupFinancial Services Regulation

FCA GABRIEL reporting system ready for CRD IV submissions

15 April 2014  |  412 views  |  0  |  Recommends 0 GroupFinancial Services Regulation

BCBS finalises approach of derivatives-related transactions

14 April 2014  |  478 views  |  0  |  Recommends 0 GroupFinancial Services Regulation

CFTC analyses data sent to trade repositories

14 April 2014  |  549 views  |  0  |  Recommends 0 GroupFinancial Services Regulation
name

Stuart Clark

job title

Product Development Director

company name

Impendium Systems

member since

2012

location

London

Summary profile See full profile »
Co-founded Impendium in 2006. Previously head of Client Services for Deutsche Banks top 100 cust...

Stuart's expertise

What Stuart reads
Stuart writes about

Who is commenting on Stuart's posts

Neil Crammond
Gary Wright