Solvency II: Regulatory Reporting and exemptions

Supervisory Statement 11/15

Update 6 July 2018

Following publication of Policy Statement 16/18, this SS was updated to include the following paragraphs: 3.6(A) and 3.6(B) relating to the timing when resuming reporting. The PRA clarified that should a waiver be revoked by the PRA, the PRA expects that firms will resume reporting within six months from the initial notification, unless there are specific circumstances where such a delay would not be appropriate. Should a waiver expire and not be reviewed by the firm to the PRA  reporting should resume at the next scheduled reporting date.

The following paragraphs were amended: 3.1, 3.2, 3.6, 3.7 and 3.8 to reflect that the PRA will grant Category 4 and 5 firms the limitation of regular supervisory reporting where the predefined submission is less than one year via a rule waiver.

The changes to this SS will take effect for firms' quarter 3 reporting period 2018 onwards.

Published on 20 March 2015

This supervisory statement clarifies the PRA’s implementation of the Solvency II regime’s requirements in relation to supervisory reporting. The statement is addressed to all UK Solvency II firms and to Lloyd’s, and should be read alongside all relevant EU legislation, and the Reporting Part of the Prudential Regulation Authority (PRA) Rulebook.

The statement:
 
  • lists the reporting requirements that are subject to this exemption; and
  • explains the steps a firm must take to apply for the exemption, and how the decision will be communicated to the firm.

Current version

Published: 6 July 2018

This SS was updated following PS16/18 ‘Solvency II: Changes in reporting requirements’

Effective from: For firms' Q3 reporting period 2018 onwards

Past versions

Published: 6 July 2016

This SS was updated to reflect those published in the Commission Implementing Regulation (EU) 2015/2450 of 2 December 2015.
Effective from: 6 July 2016 (superseded by July 2018 version for firms’ Q3 reporting period 2018 onwards)

 

Published: 20 March 2015

Initial publication following PS2/15 ‘Solvency II: A new regime for insurers’.
Effective from: 1 January 2016 (superseded on 6 July 2016 by July 2016 version)

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