Insurance Compliance

Proposed Directive on Bank Reporting Requirements (Regulation 46)

The South African Prudential Authority has issued a proposed directive for consultation regarding reporting requirements under Regulation 46 of the Regulations relating to Banks. This directive aims to specify the Banks Act (BA) returns that require auditing or review under a limited assurance framework.

Prudential Authority Guidance Note Status Update

The South African Prudential Authority has issued Guidance Note 1 of 2026, updating the status of previously issued guidance notes for deposit-taking institutions. This annual note clarifies which guidance remains in effect for the upcoming year, ensuring awareness among banks, controlling companies, and their auditors.

Proposed Directive on Internal Liquidity Adequacy Assessment Process

The South African Prudential Authority has issued a proposed directive for consultation regarding the Internal Liquidity Adequacy Assessment Process (ILAAP). This directive is based on Basel Committee on Banking Supervision principles for sound liquidity risk management.

Prudential Authority Circular C1-2026: Status of Bank Circulars

The Prudential Authority (PA) has issued Circular C1-2026 to confirm the status of previously issued bank circulars. This annual confirmation aims to ensure clarity for regulated entities regarding which circulars remain effective.

Insurance Authority Circulars and Guidelines Introduction

The Insurance Authority has published an introduction to its circulars and guidelines. These documents are intended to remind industry participants of regulatory requirements and assist in understanding regulatory issues.

Insurance Authority Consultation Documents and Draft Rules

The Insurance Authority of Hong Kong has released multiple consultation papers and conclusions on draft rules concerning the insurance industry. These documents cover topics such as risk-based capital regimes, public disclosure, special purpose business, group-wide supervision, and new regulatory regimes for intermediaries. The consultations aim to gather feedback on proposed regulatory changes.

Hong Kong Insurance Authority Publishes Numerous Guidelines

The Hong Kong Insurance Authority has published a comprehensive list of updated and new guidelines covering various aspects of insurance business. These include updated guidelines on authorization, anti-money laundering, cybersecurity, corporate governance, and underwriting, with some effective dates ranging from mid-2024 to early 2026.

IVASS Orders Blocking of 2 Abusive Insurance Websites

The Italian Insurance Supervisory Authority (IVASS) has ordered the blocking of two websites operating abusively in the insurance sector. This action brings the total number of blocked abusive sites to 348 since November 2023.

FWU Life Insurance Liquidation: Claims Processing and ID Requirements

IVASS has announced that the liquidator for FWU Life Insurance Lux S.A. is processing claims, with no automatic confirmation of receipt due to high volume. Creditors are urged to update their identification documents to the electronic ID (CIE) by August 3, 2026, to ensure their claims are processed.

IVASS Warns of Counterfeit ADAC VERSICHERUNG AG Insurance Policies

The Italian Insurance Supervisory Authority (IVASS) has issued a warning regarding counterfeit surety insurance policies falsely attributed to ADAC VERSICHERUNG AG. The agency advises consumers to verify policy legitimacy and check authorized lists on the IVASS website.