LMG welcomes start of ILS legislative process
The government has tabled an amendment to the Bank of England and Financial Services Bill seeking power for the Treasury to make regulations facilitating and regulating insurance linked securities (ILS) business, a move welcomed by the London Market Group.
The main focus of the power is the special purpose vehicles used in ILS transactions.
If parliament accepts the amendment, Treasury ministers will be able to make regulations for any aspect of ILS
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