FSA: three-pillar approach is the regulation way forward
A three-pillar approach will be used to regulate the insurance industry, according to Financial Ser...
A three-pillar approach will be used to regulate the insuranceindustry, according to Financial Services Authority chairman Howard
Davies.
Mr Davies told delegates that the industry would be governed by a basic
minimum capital requirement, supervisory review and an enhanced disclosure
regime.
The details of the FSA's new regime will be consulted later this year but
it intends to support the three-pillar approach by changing the way
insurance capital is calculated. Waivers will be granted to
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