EIOPA Publishes Q&A on Regulations in April 2019
EIOPA updated questions and answers (Q&A) on the implementing and delegated regulations related to the Solvency II Directive. The update covers answers to questions for (EU) No 2015-2450 on templates for the submission of information to the supervisory authorities, (EU) No 2015-2013 on standard deviations in relation to health risk equalization systems, and (EU) 2015-35 supplementing the Solvency II Directive. The update also covers answers to questions received on the guidelines on classification of own funds.
The EIOPA Q&A tool is intended to ensure the consistent and effective application of the regulation 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 particular 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.
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Keywords: Europe, EU, Insurance, Solvency II, Delegated and Implementing Regulations, Guidelines, Reporting, EIOPA
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