Publication
Regulatory investigations and enforcement: Key developments
The past six months have seen a number of key changes in the regulatory investigations and enforcement space.
Ten things to know about insurance regulation in 19 countries
Insurance companies in Asia Pacific face complex regulatory issues that can impact their ability to operate across multiple jurisdictions.
Regulators differ by jurisdiction when it comes to permitting branches of foreign insurance companies to operate, with some allowing only locally incorporated companies. Furthermore, restrictions may be imposed on foreign direct investment and controller regimes – shareholders and management – making it essential for companies to determine if approval from the regulator is required upon proposed change of control (direct or indirect). Companies also need to be familiar with the nature of the regulatory capital regime, whether there is group supervision, a mandatory policy holder protection regime, and whether outsourcing is subject to regulatory oversight.
To help our clients navigate these areas, we have produced ‘Insurance regulation in Asia Pacific’ as part of our NRF Institute, which provides an overview and practical checklist of ten common regulatory issues for insurance companies operating, or seeking to operate, in 19 jurisdictions across Asia Pacific.
Recent publications
Publication
Pensions Ombudsman rejects claim for scam compensation when trustees had no duty of due diligence
In a recent determination, the Ombudsman rejected a scheme member’s claim that the trustees should have conducted due diligence on the receiving scheme before making a transfer in in 2014, as there was no duty of care on the trustees at the time of transfer.
Publication
Court of Appeal clarifies rules on compensation for "non-material" damage in data protection breaches
The Court of Appeal has confirmed that proof of disclosure to third parties is not required for data protection law breaches and that individuals’ rights are breached by unlawful “processing” alone.
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