Enterprise Risk Management and Own Risk and Solvency Assessment; Group-Wide Supervision
NY-ADR
6/3/20 N.Y. St. Reg. DFS-09-20-00008-A
NEW YORK STATE REGISTER
VOLUME XLII, ISSUE 22
June 03, 2020
RULE MAKING ACTIVITIES
DEPARTMENT OF FINANCIAL SERVICES
NOTICE OF ADOPTION
I.D No. DFS-09-20-00008-A
Filing No. 350
Filing Date. May. 15, 2020
Effective Date. Jun. 03, 2020
Enterprise Risk Management and Own Risk and Solvency Assessment; Group-Wide Supervision
PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following action:
Action taken:
Amendment of Part 82 (Regulation 203) of Title 11 NYCRR.
Statutory authority:
Financial Services Law, sections 202, 302; Insurance Law, sections 110, 301, 302, 308, 1503(b), 1504(c), 1604(b) and 1717
Subject:
Enterprise Risk Management and Own Risk and Solvency Assessment; Group-Wide Supervision.
Purpose:
To authorize the Superintendent to act as the group-wide supervisor for an internationally active insurance groups.
Text or summary was published
in the March 4, 2020 issue of the Register, I.D. No. DFS-09-20-00008-P.
Final rule as compared with last published rule:
No changes.
Text of rule and any required statements and analyses may be obtained from:
Joana Lucashuk, Department of Financial Services, One State Street, New York, NY 10004, (212) 480-2125, email: [email protected]
Initial Review of Rule
As a rule that requires a RFA, RAFA or JIS, this rule will be initially reviewed in the calendar year 2023, which is no later than the 3rd year after the year in which this rule is being adopted.
Assessment of Public Comment
The agency received no public comment.
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