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Regulator brands Solvency II costs 'indefensible'
by Alex Steger on Feb 07, 2013 at 07:55
The paper reported that Andrew Bailey (pictured), head of the FSA prudential business unit, called the plans ‘shocking’ and said the costs, estimated to be over £3 billion to UK insurance companies alone, were ‘frankly indefensible'.
Bailey also expressed scepticism at the new timetable for the already much delayed reforms, which are now unlikely to come into force before 2016, the FT reported.
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As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.
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Alastair Mundy met Citywire's Daniel Grote at the London Stock Exchange Studios for a detailed interview about the Investec Cautious Managed fund.
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by Michelle Abrego on Jul 29, 2014 at 11:01