Policy and Approval: Solvency and Financial Condition Report


A firm must have in place:

  1. (1) appropriate systems and structures to fulfil the requirements of 3 to 5; and
  2. (2) a written policy ensuring the ongoing appropriateness of any information disclosed:
    1. (a) in accordance with the requirements referred to in (1); and
    2. (b) on a voluntary basis as further information or explanation related to the SFCR which is not already required to be disclosed.

[Note: Art. 55(1) of the Solvency II Directive]


A firm must ensure that its SFCR is:

  1. (1) subject to approval by its governing body; and
  2. (2) not publicly disclosed until the approval referred to in (1) is received.

[Note: Art. 55(2) of the Solvency II Directive]