On 13 August 2015, the PRA and FCA in the UK jointly published a policy statement (PS15/21) on the Approved Persons Regime (APR) for (re)insurers subject to Solvency II.  This sets out the final rules for the reformed accountability framework for individuals working in such firms.  It provides a timetable for firms regarding the implementation of the new APR and also discusses arrangements for the grandfathering of individuals currently approved under the existing regime.