This is the May 2014 edition of the Arthur Cox Insurance Regulatory Update, the monthly bulletin of the Arthur Cox Insurance Group. The Update contains a summary of recent developments in insurance regulation, law and practice. Topics covered include the Central Bank's publication of Reserving Requirements for Non-Life Insurers, and Non-Life and Life Reinsurers, the publication of the Data Protection Commissioner's 2013 Annual Report, the Address by the Central Bank's Head of Consumer Protection to the Institute of Banking's Certified Bank Director CPD Seminar, the Bank of England's indication that it will hold Insurance Executives to account, the publication of Omnibus II in the Official Journal, EIOPA's publication of a discussion paper on Conflicts of Interest, EIOPA's initiation of a "Comply or Explain" Process on Guidelines on Complaints Handling by Insurance Intermediaries, EIOPA's introduction of a new format for its Financial Stability Report, and Insurance Europe's publication of a report on Indirect Taxation on insurance Contracts in Europe.

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