PRA has published its policy statement on proposals in one of its Occasional Consultations. The changes confirmed will cover:
- minor updates on liquidity reporting;
- LIBOR updates for non-Solvency II insurers;
- other minor reporting updates for Solvency II;
- amended SMCR application forms and SOR template;
- changes to the branch return; and
- regulatory reporting updates.
The changes take effect immediately, except for the SMCR form updates, which take effect on 25 October, and the Solvency II reporting updates, which take effect on 30 November.