Wednesday, 25 May 2011

FSA Special Levy for Internal Models - Just like the Irish...

New levies on the way it seems, with a FSA-led consultation kicking off this week - having seen the Irish go this way early in the week it should be no surprise, but I guess it begs the question "did we not already pay you for this?".

No doubt more to follow today and tomorrow on this one - in the meantime, UK followers may want to start taking notes on how the FSA approach them, because it looks like the levies will follow some kind of "proportionality" principle judging by the terminology used, and that could indicate future likelihood of proportionality reliefs in your Solvency II implementation.

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