14 août 2020 · The PEPP Regulation confers on EIOPA the power to monitor the market for PEPPs which are marketed, distributed or sold in the Union and,
eiopa pepp advice eiopa product intervention powers
EIOPA Strategic Objectives • EIOPA Powers – Examples • Stakeholder Groups ( SGs): o Composition o role o responsibilities • EIOPA's with regard to its SGs
EIOPA Presentation Roles and tasks
In September the European Commission launched a proposal for the review of the European Supervisory Authorities The main driver is the need to empower
ESA review
and increased bureaucratic burdens B Potential new EIOPA powers 1 Existing powers in EIOPA Regulation to achieve convergence suffice, but need to be
joint position of the f d ration fran aise de l assurance and the gesamtverband der deutschen versicherungswirtschaft on the operations of the european supervisory authorities data
Disclosure of comments: EIOPA will make all comments available on its website, We have significant concerns with a more extended use of the power to
comments template on eiopa vvn
accordance with Article 136 of the Solvency II Directive4 During the early intervention period, EIOPA advises that regulators should have additional powers ,
SII EIOPA Opinion Recovery and Resolution
15 oct 2019 · Currently only four UK insurers / groups are subject to pre-emptive recovery planning ○ Introducing early intervention powers for national
eiopa calls for insurance recovery and resolution framework
With regards to the powers granted to NSAs, EIOPA would like insurers' views on what could be the potential implications or side effects of the power to bail in
Harmonisation of Recovery and Resolution framework
14 août 2020 The PEPP Regulation confers on EIOPA the power to monitor the market for ... the context of product intervention powers for EIOPA ...
27 mars 2015 recovery plan finance scheme and supervisory powers in deteriorating financial conditions. The Consultation Paper is published on EIOPA's ...
19 févr. 2020 EIOPA considers that the current ultra-low interest rate ... the supervisory powers and measures and companies' reactions to the low ...
6 juil. 2022 EIOPA is an autonomous EU Agency and has therefore its own financial regulation. ... use of EIOPA's powers and access to document.
15 oct. 2013 EIOPA is responding to the Financial Stability Board (FSB) consultation on ... trigger mechanism for activation of resolution powers.
In September the European Commission launched a proposal for the review of the European. Supervisory Authorities. The main driver is the need to empower
competent authorities ESMA and EBA powers with respect to financial instruments and structured deposits
3 août 2021 On conduct risks EIOPA finalised a chapter for the Supervisory ... EIOPA's powers to assist where supervisors cannot reach a common view.
18 oct. 2021 Article 8(1) of the EIOPA Regulation states that EIOPA “shall ... legal powers and resources granted to the NCAs to fulfil its missions.
Neither EIOPA nor any person acting on behalf of EIOPA is responsible for the use Annex: Powers available to NSAs . ... toring or as intervention power.
The Report on EIOPA Supervisory Activities in 2022 presents how EIOPA contributed during 20 22 to enhance the common European supervisory culture and promoted consistent supervisory practices both from a prudential and conduct of business supervision perspective
The PRIIPs Regulation states that EIOPA’s and National Competent Authorities’ (NCA) powers should be complemented with an explicit mechanism for temporarily prohibiting or restricting the marketing distribution and sale of insurance-based investment products which give rise to serious concerns regarding investor
EIOPA’s product intervention powers Extract from the Call for Advice 3 1 Criteria and factors to determine when there is a significant PEPP saver protection concern for the purpose of EIOPA’s intervention powers (as laid down in the empowerment of Article 65(2) of the PEPP Regulation)
The European Insurance and Occupational Pensions Authority (EIOPA) shall comprise: a Board of Supervisors which shall operate in accordance with its Rules of Procedure2; a Management Board which shall operate in accordance with its Rules of Procedure3; a Chairperson who shall operate in accordance with Article 2; and
EIOPA’s Powers - Examples (I) • Develop draft technical standards: o RTS on Key Information Document (KID) o ITS for Solvency II • Issue guidelines and recommendations: o Consumer protection: Guidelines On Complaints Handling by Insurance Intermediaries and by Insurance Undertakings o Solvency II guidelines and SII preparatory Phase
EIOPA published its consultation paper on the 2020 review of the Solvency II regime (the consultation) on 15 October 2019 The consultation covers a wide range of topics in detail and builds on recent reviews on aspects of Solvency II including reporting requirements insurance guarantee schemes as well as EIOPA’s earlier advice on SCR
powers funding arrangements resolution tools and requirements for planning and cross-border cooperation to facilitate effective resolution of any financial institution that might be of systemic importance These elements are generally lacking in the different Member States Indeed several gaps were identified in dif ferent EU Member
EIOPA also proposes to broaden the existing resolution toolkit to introduce a common set of resolution powers with consistent design implementation and enforcement features These resolution powers should help to better achieve the resolution objectives such as better protecting
EIOPA as a European Authority will process any personal data in line with Regulation (EC) No 45/2001 on the protection of the individuals with regards to the processing of personal data by the Community institutions and bodies and on the free movement of such data
What is EIOPA's view on inducement?
- The report was followed by a consultation paper that was published by EIOPA on 2 February 2017, on complex insurance-based investment products (IBIPs). A key take-away of the technical advice is EIOPA’s view on the term inducement. In line with that view, inducements would equally include payments to tied insurance intermediaries.
What is EIOPA doing to protect the environment?
- EIOPA must also put in place a monitoring system to assess material environmental, social and governance-related risks (Article 29) and through this activity, EIOPA will develop that system. Strategically aligned:Building the European methodological framework is crucial to identify, assess, mitigate and manage risks and threats.
What will EIOPA do with the data it receives?
- Furthermore, EIOPA will use the reporting data received to create added value for NCAs by increasing the scope and improving the analytical reports at national and EU levels provided to them. Similar processes need to be defined for pensions data, which EIOPA is to receive for the first time by 2020. Planning priority for 2021:
Technical Advice on delegated acts to supplement Regulation (EU