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A link to the report is: www. The review states that the most fundamental changes required are those relating to capital adequacy, accounting and liquidity policies and there are also changes recommended in the regulation of governance and risk management.
Of particular interest may be the FSA's comments on procyclicality in particular their reference to rating-based triggers and collateral requirements and their comments on the quality of bank capital. This review does not have direct application to the insurance market. However, capital adequacy aside, the Turner review notes, at page 91, "The arguments for combining responsibility for the prudential regulation and supervision of all financial market sectors, e.
Further, the FSA have simultaneously with the report published a discussion paper www. The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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Learn More Accept. UK: Turner Review Published. To print this article, all you need is to be registered or login on Mondaq. Kapil Dhir. Andrew Carpenter. Ian Chung. Laurent Lacas looks at the lessons to be drawn from the insurer's underwriting process, which risks overlooking "notorious" facts.
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The Turner review: a regulatory response to the global banking crisis
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Regulation of Financial Markets (LAWS0084)