April 23, 2018

EIOPA published its supervisory convergence plan for 2018-2019 for the insurance sector. The focus is on the implementation of Solvency II and conduct of business supervision.

EIOPA defined the following three priority areas to further strengthen supervisory convergence for 2018 and 2019:

  • Implementation of the common supervisory culture and new supervisory tools
  • Addressing risks to the internal market and to the level playing field, which may lead to supervisory arbitrage
  • Supervision of emerging risks

The priorities of the supervisory plan were identified according to their impact on policyholders, financial stability, and the level playing field or the functioning of the internal market. The priority areas include the areas of supervision where practices across the EU still differ substantially. At the beginning of 2019, the supervisory convergence plan will be updated and include a progress report.

 

Related Links

Keywords: Europe, EU, Insurance, Supervisory Convergence, Solvency II, Financial Stability, EIOPA

Related Articles
News

CFTC Proposes to Amend Derivatives Clearing Organization Regulations

CFTC proposed amendments to certain regulations applicable to registered derivatives clearing organizations (DCOs) under Part 30 of the CFTC regulations.

May 16, 2019 WebPage Regulatory News
News

APRA Licenses Societe Generale As Foreign Deposit-Taking Institution

APRA granted Societe Generale a license to operate as a foreign authorized deposit-taking institution under the Banking Act of 1959.

May 16, 2019 WebPage Regulatory News
News

EBA Provides Updates on Its Work on Basel III Impact Assessment in EU

EBA is working to finalize the impact assessment on implementation of Basel III standards, in response to the EC call for advice, which was received on May 04, 2018.

May 16, 2019 WebPage Regulatory News
News

FED Publishes Report Summarizing Regulatory and Supervisory Activities

FED published a report that summarizes banking conditions and the supervisory and regulatory activities of FED, in conjunction with semiannual testimony before Congress by the Vice Chairman for Supervision.

May 15, 2019 WebPage Regulatory News
News

US Agencies Propose to Amend Regulatory Framework for Foreign Banks

US Agencies (OCC, FED, and FDIC) proposed a regulatory framework for foreign banks operating in the U.S. that would more closely match the rules for foreign banks with the risks they pose to the U.S. financial system.

May 15, 2019 WebPage Regulatory News
News

ECB Consults on EONIA to €STR Legal Action Plan

ECB published a consultation, which was launched by the working group on euro risk-free rates, on recommendations to address the legal implications for new and legacy contracts referencing the euro overnight index average (EONIA), as a result of the proposed transition from EONIA to the euro short-term rate (€STR).

May 15, 2019 WebPage Regulatory News
News

FASB Offers Targeted Transition Relief Under Credit Losses Standard

FASB issued an Accounting Standards Update 2019-05 (on Topic 326) that eases transition to the credit losses standard by providing the option to measure certain types of assets at fair value.

May 15, 2019 WebPage Regulatory News
News

European Council Adopts Updated Rules on Clearing of OTC Derivatives

European Council adopted a regulation improving the existing regulatory framework applicable to the market for over-the-counter (OTC) derivatives.

May 14, 2019 WebPage Regulatory News
News

European Council Adopts Package on CRD 5, CRR 2, BRRD 2, and SRMR 2

European Council adopted a comprehensive legislative package that will reduce risks in the banking sector and further reinforce banks' ability to withstand potential shocks.

May 14, 2019 WebPage Regulatory News
News

EBA Single Rulebook Q&A: Second Update for May 2019

EBA published answers to two questions under the Single Rulebook question and answer (Q&A) updates for this week.

May 10, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 3080