Regulatory Alerts2025-10-03
GFSC Guidance Note Solvency 2 Internal Models: Approvals and Ongoing Monitoring
The Gibraltar Financial Services Commission issues this guidance to define the procedures for approving internal models and conducting ongoing monitoring for calculating Solvency Capital Requirements. It mandates early engagement, detailed application documentation, and specific assessment criteria for both initial approvals and variations. The document further outlines supervisory review processes, including thematic schedules and compliance assessments, to ensure firms maintain model integrity.
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