EIOPA Updates Q&A on Regulations in May 2019
EIOPA published additional questions and answers (Q&A) on guidelines, directives, and regulations applicable to insurers in Europe. This update covers answers related to the Solvency II Directive (EU Regulation No. 2009-138), the templates for submission of information to supervisory authorities (EU Regulation No. 2015-2450), and the EU Regulation No. 2015-35 supplementing Directive 2009-138.
The EIOPA Q&A tool is intended to ensure consistent and effective application of insurance regulations in the European economic area. The Q&A tool can be used by all parties, including financial institutions, supervisors, and other stakeholders, for submitting questions on regulatory tools that have been published by EIOPA. Financial institutions, supervisors, and other stakeholders can use the Q&A process for submitting questions on EU law and EIOPA guidelines within the area of insurance and pensions. The Q&As have no binding force in law, nor are they subject to "comply or explain." However, their application will be rigorously scrutinized and challenged by EIOPA and national supervisory authorities, given their practical significance to achieve a level playing field.
Related Links
- News Release on Answers to (EU) No 2009-138
- News Release on Answers to (EU) No 2015-2450
- News Release on Answers to (EU) 2015-35
Keywords: Europe, EU, Insurance, Solvency II, Q&A, Delegated and Implementing Regulations, Reporting, EIOPA
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Pierre-Etienne Chabanel
Brings expertise in technology and software solutions around banking regulation, whether deployed on-premises or in the cloud.
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Related Articles
BIS Examines Use of Big Data and Machine Learning at Central Banks
BIS published a paper that provides an overview on the use of big data and machine learning in the central bank community.
APRA Finalizes Reporting Standard for Operational Risk Requirements
APRA finalized the reporting standard ARS 115.0 on capital adequacy with respect to the standardized measurement approach to operational risk for authorized deposit-taking institutions in Australia.
ECB Publishes Guide for Determining Penalties for Regulatory Breaches
ECB published a guide that outlines the principles and methods for calculating the penalties for regulatory breaches of prudential requirements by banks.
MAS Sets Out Good Practices to Manage Operational Risks Amid COVID
MAS and The Association of Banks in Singapore (ABS) jointly issued a paper that sets out good practices for the management of operational and other risks stemming from new work arrangements adopted by financial institutions amid the COVID-19 pandemic.
ACPR Announces New Data Collection Application for Banks and Insurers
ACPR announced that a new data collection application, called DLPP (Datalake for Prudential), for collecting banking and insurance prudential data will go into production on April 12, 2021.
BCB Maintains CCyB at 0%, Initiates First Cycle of Regulatory Sandbox
BCB announced that the Financial Stability Committee decided to maintain the countercyclical capital buffer (CCyB) for Brazil at 0%, at least until the end of 2021.
EIOPA Launches Study on Non-Life Underwriting Risk in Internal Models
EIOPA has launched a European-wide comparative study on non-life underwriting risk in internal models, also kicking-off of the data collection phase.
SRB Publishes Overview of Resolution Tools Available in Banking Union
SRB published an overview of the resolution tools available in the Banking Union and their impact on a bank’s ability to maintain continuity of access to financial market infrastructure services in resolution.
EBA Consults on Pillar 3 Disclosure Standards for ESG Risks Under CRR
EBA is consulting on the implementing technical standards for Pillar 3 disclosures on environmental, social, and governance (ESG) risks, as set out in requirements under Article 449a of the Capital Requirements Regulation (CRR).
ESAs Issue Advice on KPIs on Sustainability for Nonfinancial Reporting
ESAs Issue Advice on KPIs on Sustainability for Nonfinancial Reporting
