Tag Archives: European Commission

ESAs advise the Commission on PRIIPs with environmental or social objectives

The European Supervisory Authorities (ESAs) have submitted their technical advice to the European Commission (the Commission) to set minimum requirements, which manufacturers of PRIIPs with environmental or social (EOS PRIIPs) objectives should comply with to ensure their products meet the retail investors’ needs. The ESAs addressed  four areas: (i) specific environmental or social objectives, (ii) disclosure of specific investment […]

EC publishes draft Delegated Regulation on IPID requirements under IDD

EC has published for consultation a draft Delegated Regulation supplementing the IDD  concerning information requirements and conduct of business rules applicable to the  distribution of insurance-based investment products (IPIDs). The IDD contains a specific chapter, with additional conduct of business requirements, on the sale of IPIDs. The Delegated Regulation, which is based on previous technical advice delivered […]

Commission consults on non-performing loan market

The European Commission is consulting on a secondary market for non-performing loans. It seeks views on how to improve the market and specifically on loan servicing activities by third parties, and the transfer of loans away from the originating bank. It asks for feedback by 20 October.

EIOPA consults on first set of advice on Solvency II review

 EIOPA has launched a project in a response to the call for advice by the EC and has published a consultation paper on the first set of advice. EIOPA’s focus is on the review of Commission Delegated Regulation (EU) 2015/35 and in particular the Solvency Capital Requirement (SCR) standard formula. The main goals of the review […]

WFE encouraged by Commission consultation on FinTech

The World Federation of Exchanges said it was encouraged by the Commission’s consultation on FinTech as it believed that it was important to get policy right in this area to avoid the rush to regulate. These comments came following the WFE’s response to the Commission’s consultation document “FinTech:  a more competitive and innovative European financial sector”, which was published […]

EIOPA publishes 2016 annual report

EIOPA has published its annual report which reviews its mandate and programme of work during 2016. Highlights of what EIOPA considers to be its top achievements in 2016 include: Developments of the KID for PRIIPs. EIOPA’s readiness for Solvency II reporting. EIOPA Insurance Stress Test 2016. Launch of an EU-wide thematic review of market conduct among […]

EIOPA calls for evidence following European Commission’s 2nd request for technical advice on Solvency 2 Delegated Regulation

EIOPA is seeking responses on the treatment of unlisted equity and debt without an External Credit Assessment Institution rating in the standard formula. This request is further to the European Commission’s request for advice on the same. EIOPA will prepare draft advice to the Commission following any feedback received and plans to start a consultation in November 2017 […]

European Commission publishes FS action plan

The Commission has published its Financial Services Action Plan for a “deeper and fairer Single Market”. As ever, the priority is to enhance competition and improve consumer choice, regardless of where and how consumers shop for financial services and products. The plan notes that only 7% of consumers buy financial services from other Member States […]

European Commission releases public consultation on FinTech as part of Consumer Financial Services Action Plan

In a statement released today, the European Commission has presented an Action Plan that sets out ways to provide European consumers with greater choice and better access to financial services across the EU. At its heart is a focus on technology, given that innovative online services will drive progress towards a more integrated market for financial services. This […]

European Commission speaks on Fintech

European Commission Vice President Valdis Dombrovskis spoke at a Fintech and Digital Innovation Conference. He noted the need to keep up with change and for regulators to fully understand new technologies and regulate proportionately without creating market barriers. He said the Commission would shortly be publishing its action plan, which would address measures it would take […]