On 13 August 2015, the FCA published final accountability rules for individuals  working  for  firms  that are subject to the Solvency II Directive (which introduces a harmonised  EU-wide  regulatory  regime  for  insurance  firms).

The rules include:

  • changes to the scope of the FCA’s approved persons regime;
  • changes to the fitness and propriety assessments of candidates for FCA regulated Significant Influence Function roles; and
  • new Conduct rules for approved persons in Solvency II firms to encourage appropriate behaviour by staff.