Regulatory Alerts2020-12-16
Instruction No. 2020-I-15 of December 16, 2020 amending Instruction No. 2016-I-17 on prudential document submission to the ACPR by Solvency II insurance and reinsurance undertakings
The Prudential Control and Resolution Authority amends its Solvency II reporting framework to require insurance and reinsurance undertakings to publicly disclose the nature and effects of any major event that significantly undermines the relevance of information in their solvency and financial situation report. This amendment inserts a new disclosure obligation into the existing prudential instruction to ensure market transparency during material operational or financial disruptions. The revised instruction enters into force the day following its official publication.
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