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Evolving Distribution Models in Asset Management

Evolving Distribution Models in Asset Management

In this report we focus on Evolving Distribution Models. In particular, we look at the forces that are leading to a reshaping of distribution functions and how different elements of the model are changing.
Modified date: 17/05/2013
Business and industry issue; Publication series
Time for a social charter for the insurance sector

Time for a social charter for the insurance sector

I believe the insurance industry needs to consider some form of social charter in an effort to repair the lost covenant with its disenfranchised communities.
Modified date: 16/05/2013
Business and industry issue
Update regarding client money Shortfall Application

Update regarding client money Shortfall Application

There are various possible ways the Court might hold that shortfall claims into the general unsecured estate should be valued. Below are some examples which illustrate some of the key matters that will need to be determined by the Court.
Modified date: 13/05/2013
Business and industry issue
MF Global UK special administration

MF Global UK special administration

The latest updates from the special administrators of MF Global UK Limited
Modified date: 09/05/2013
Business and industry issue
No time to put your feet up - tax pressures in the Lloyd's market

No time to put your feet up - tax pressures in the Lloyd's market

A summary of a few key continuing taxation issues in the Lloyd’s market, including senior accounting officer and member level reinsurance, and their relationship to current activity and debates.
Modified date: 07/05/2013
Business and industry issue
Tax in capital requirements: where next?

Tax in capital requirements: where next?

With the Solvency II timetable receding into the future and the gestation of “ICAS+”, now is the time to take stock on a number of fronts, including tax.
Modified date: 07/05/2013
Business and industry issue
Updates to the R&D tax credit will have impacts for insurers

Updates to the R&D tax credit will have impacts for insurers

The new Research and Development Expenditure Credit for large companies is now with us, which may make the regime more attractive for insurance groups. We highlight the key points and recently announced changes.
Modified date: 07/05/2013
Business and industry issue
The Unit Pricing Committee’s tax agenda

The Unit Pricing Committee’s tax agenda

The FSA are conducting a Thematic Review of unit linked business. Gordon Gray discusses some topical tax issues relevant to the management of unit-linked business.
Modified date: 07/05/2013
Business and industry issue
KPMG acquires Makinson Cowell

KPMG acquires Makinson Cowell

Meeting growing client demand for combined, independent debt and equity capital advice
Modified date: 19/04/2013
KPMG information; Press release
KPMG appoints new UK Head of Insurance

KPMG appoints new UK Head of Insurance

KPMG has appointed Phil Smart as UK Head of Insurance.
Modified date: 10/04/2013
Press release
UK Banks Performance Benchmarking Report FY Results 2012

UK Banks Performance Benchmarking Report FY Results 2012

The Performance Benchmarking Report examines the full year results of the five major UK banks: Barclays, HSBC, Lloyds Banking Group, RBS and Standard Chartered.
Modified date: 08/04/2013
Benchmarking study
Conditional settlement agreements with MF Global Inc and MF Global Holdings Limited

Conditional settlement agreements with MF Global Inc and MF Global Holdings Limited

MF Global Inc., MF Global UK Ltd. and MF Global Holdings Ltd. reach agreements to resolve all claims among the estates
Modified date: 05/04/2013
Press release
Ring-fencing retail banks: no turning back

Ring-fencing retail banks: no turning back

The UK Government announced that it will implement the Independent Commission on Banking (ICB) recommendations as the "most far-reaching reform of British banking in our modern history".
Modified date: 02/04/2013
Business and industry issue
G20 Summit: Tightening the regulatory noose on systemically important firms

G20 Summit: Tightening the regulatory noose on systemically important firms

Although dominated by the Eurozone problems, the November G20 summit demonstrated the determination of the authorities to press ahead with a second wave of major regulatory reforms.
Modified date: 02/04/2013
Business and industry issue
Making risk appetite practical in insurers

Making risk appetite practical in insurers

Regulators and rating agencies are paying increasing attention to how well insurance firms operate against a robust risk appetite framework.
Modified date: 02/04/2013
Business and industry issue
KPMG concerned over depth of EIOPA’s insurance proposals for 2014

KPMG concerned over depth of EIOPA’s insurance proposals for 2014

The European Insurance and Occupational Pensions Authority (EIOPA) today released four consultation papers providing the detail of its proposed interim measures guidelines, which it proposes should be adopted by national supervisors from 1 January 2014
Modified date: 27/03/2013
Press release
Increased bank profits wiped out by cost of past mistakes and increased creditworthiness of their own debt

Increased bank profits wiped out by cost of past mistakes and increased creditworthiness of their own debt

The UK’s major banks recorded a rise in core profits of 45% in 2012 – to a combined sum of £31.5 billion
Modified date: 25/03/2013
Press release
Budget 2013: Investment Management Strategy provides boost for UK funds

Budget 2013: Investment Management Strategy provides boost for UK funds

The Treasury's Investment Management Strategy is “a very strong statement of intent to preserve and enhance the UK’s position as a leading global investment management centre”
Modified date: 20/03/2013
Press release
UK accounting finally closes the GAAP

UK accounting finally closes the GAAP

KPMG in the UK welcomes the issue of the Financial Reporting Council’s (FRC’s) Financial Reporting Standard 102
Modified date: 19/03/2013
Press release
KPMG comments on IASB proposals on accounting for loan impairments

KPMG comments on IASB proposals on accounting for loan impairments

The IASB has today issued its long-awaited revised proposals on accounting for the impairment of financial assets
Modified date: 07/03/2013
Press release
Introduction of a VAT cost sharing exemption into UK law

Introduction of a VAT cost sharing exemption into UK law

VAT exemption for services provided by a cost sharing entity is now available as the UK has brought itself in line with European law. This should allow partly or fully exempt businesses to receive certain services free of VAT.
Modified date: 06/03/2013
Business and industry issue
The light bite? FATCA for non-Financial Institutions

The light bite? FATCA for non-Financial Institutions

In this fifth article on FATCA, we consider the pertinent points for non-Financial Institutions, such as general insurers and insurers that only write Exempt Products and this proves to be a much lighter meal.
Modified date: 25/02/2013
Business and industry issue
Key considerations for insurers on whether to transition to ICAS+

Key considerations for insurers on whether to transition to ICAS+

Overview of the FSA’s proposed ICAS+ approach including considerations for firms and KPMG’s view on the proposals.
Modified date: 22/02/2013
Business and industry issue
European banks in midst of a ‘multi-year transition’ says KPMG

European banks in midst of a ‘multi-year transition’ says KPMG

The third in the series of Evolving Banking Regulation reports from KPMG
Modified date: 21/02/2013
Press release
The Outlook for General Insurance

The Outlook for General Insurance

In the UK we have 32 Partners and over 500 staff dedicated to the insurance market alone.
Modified date: 21/02/2013
Business and industry issue
KPMG calls for clear roadmap to implementation following latest Solvency II delay

KPMG calls for clear roadmap to implementation following latest Solvency II delay

The European Parliament plenary meeting to consider, and hopefully approve, the Omnibus 2 amendments to the Solvency II directive has been moved back from 10 June to 22 October 2013
Modified date: 21/02/2013
Press release
EU Financial Transaction Tax - the impact on UK Insurers

EU Financial Transaction Tax - the impact on UK Insurers

This article discusses the impact the EU Financial Transactions Tax will have on UK insurers
Modified date: 15/02/2013
Business and industry issue
Bankruptcy figures fall, but 2012 personal insolvencies expected to rise

Bankruptcy figures fall, but 2012 personal insolvencies expected to rise

High unemployment and a rising cost of living may make it difficult for individuals to commit to existing payment arrangements with their creditors
Modified date: 11/02/2013
Press release
Anti-money laundering drops down boards’ agenda

Anti-money laundering drops down boards’ agenda

Board level interest in anti-money laundering (‘AML’) is being squeezed by other priorities, according to KPMG’s Global AML survey 2011
Modified date: 11/02/2013
Press release
A Feast of IGA Draft Documentation!

A Feast of IGA Draft Documentation!

We summarise the key changes to the draft US-UK intergovernmental agreement (IGA) published on 26th July 2012
Modified date: 06/02/2013
Business and industry issue
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