FCA finalised guidance on its approach to Part VII insurance business transfers
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Briefing note discussing the FCA’s finalised guidance on its approach to Part VII insurance business transfers – FG18/4. Key points discussed include: the extent to which the guidance requires a “comply or explain” approach; grandfathering of previous schemes; future changes to schemes, including changes to the effective date; and access to the FOS and the FSCS. The note also discusses additional communications which have been made by the FCA to firms undertaking Brexit-related transfers.
