Tag Archives: European Commission

Commission consults on central bank account registry access

The European Commission has opened a public consultation on broadening law enforcement access to centralised bank account registries, with a view to increasing the speed and effectiveness with which authorities can trace criminal assets and investigate corruption. Targeted at consumers, law enforcement agencies and almost all within the banking sector, the consultation seeks to collect opinions […]

EU-US agreement on insurance and reinsurance

The European Commission has published a statement and a factsheet detailing the agreement reached between the EU and the US on prudential insurance and reinsurance measures. The agreement addresses three areas of prudential insurance oversight: reinsurance; group supervision; and the exchange of insurance information between supervisors. US and EU insurers operating in the other’s markets will […]

Commission consults on post-trade services and the CMU

In 2001, the European Commission identified certain barriers relating to post-trade services, and although major changes have taken place in the capital markets such as  EMIR, CSDR and SFTR), no review had been undertaken. The Commission has now published a consultation paper on post-trade services in the CMU in order to understand stakeholders’ views on […]

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 insurance-based investement product 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. The IDD contains a specific chapter, with additional conduct of business requirements, on the sale of insurance-based investment products. The Delegated Regulation, which is based on previous technical advice […]

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 […]