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Risk Transformation Regulations 2017 Published

The government has published the Risk Transformation Regulations 2017 (Regulations), which come into force on 8 December 2017, following publication of the draft text by HM Treasury in July.   The Regulations enable the creation of a new form of body corporate: a “protected cell company,” which can act as a special purpose vehicle in Insurance Linked Securities for the purposes of risk mitigation under the Solvency II Directive.

The Regulations are part of a framework of measures also being developed by the PRA and FCA for the authorisation and supervision of insurance special purpose vehicles (ISPVs), upon which we reported a year ago, and which the PRA and FCA have been working on during 2017.

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About this Author

Roseyna Jahangir attorney Womble London

Roseyna is a member of the financial services team. She works with clients ranging from banks and insurers to new entrants to the markets and companies for whom financial services are non-core activities; she assists clients in achieving their commercial objectives while operating within and complying with the applicable regulatory requirements. 

Roseyna provides practical advice and assistance on a broad range of financial services issues, including the requirements of the Financial Services and Markets Act and the Consumer Credit Act and...

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