In this issue: Europe – IMD2 update; Europe – EIOPA update; Europe – European Commission establishes expert group on European insurance contract law; Europe – Solvency II update; UK – FSA update; UK – Order made for transitional arrangements relating to the new regulatory regime; UK – Lloyd’s to conduct sanctions market review; US – NAIC Separate Account Risk Working Group issues proposed recommendations; US – Former US Senator Ben Nelson from Nebraska appointed NAIC Chief Executive Officer; US – Connecticut Insurance Commissioner Tom Leonardi named lead representative for the NAIC on international issues; US – Validus challenges “cascading” federal excise tax; US – Dodd-Frank corner; China – CIRC ponders new reinsurance rules in China.

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