Law firm calls for FSA governance plans to be delayed for insurers
Proposals by the Financial Services Authority (FSA) to reform corporate governance should be delayed for insurers, according to law firm Reynolds Porter Chamberlain (RPC).
As reported on broking.co.uk, the FSA’s proposals are likely to be imposed on all financial services companies at the end of this year.
They will be followed by another set of overlapping changes under Solvency II, a major piece of European regulation that insurers will have to implement by October 2012.
RPC said that insurers will not be able to bring forward implementation of the Solvency II requirements to coincide with the FSA changes because the details of Solvency II rules will not be
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