FIN.

Category - Lloyds Market

PRA consults on fees and levies for 2022/23

PRA has issued a consultation paper setting out proposals for its fees for 2022/23. The proposals include: the fee rates to meet the PRA’s 2022/23 AFR; fees applicable to firms in the temporary regimes; changes to the...

Lloyd’s responds to market misconduct

Lloyd’s has issued a notice of censure to Atrium, a managing agent in the Lloyd’s market. The firm admitted three charges of misconduct, and Lloyd’s Enforcement Board levied its largest ever fine of...

FCA writes to CEOs of LLMI firms

FCA has written a portfolio strategy letter to Lloyd’s and London Market Intermediaries and Managing General agents. It sees the key risks these firms present in: financial resilience and orderly wind-down...

FCA and Lloyds update on Brexit

FCA and Lloyd’s have both issued releases confirming how firms should act in the immediate aftermath of Brexit. FCA confirmed that during the implementation period to 31 December EU law will continue to apply. So...

Lloyd’s warns on sanctions evasion tactics

Lloyd’s has issued a new market bulletin on how to counter North Korean and other sanctions evasion tactics. The bulletin points out the constant evolution of tactics to evade sanctions, including using otherwise...

UK / Switzerland deal reached on insurance

At the World Economic Forum in Davos, the Swiss and UK governments signed a deal to allow both countries to trade freely within the insurance sector post-Brexit. The agreement will come into force when the current EU...

LMA’s Brexit Bulletin

The LMA’s recent bulletin, which was published on 2 October 2018, provided the Lloyd’s community and its members with:  (i) new model clauses for EEA and non-EEA risks placed with Lloyd’s Brussels;...