The European Insurance and Occupational Pensions Authority (EIOPA) has published a consultation paper, together with a related cover note, on proposed guidelines on the operational functioning of colleges of supervisors as required under of the Solvency
II Directive. The aim of the 28 guidelines is to clarify and enhance the co-operation between competent supervisory authorities with regard to the supervision of cross-border insurance or reinsurance groups and to facilitate the functioning of supervisory
The guidelines address issues such as cooperation between competent supervisory authorities for cross-border groups and information-sharing among supervisors.
Comments are requested by 30 June 2014. The guidelines are expected to apply from 1 April 2015, with the exception of guidelines 17 to 19, which are expected to apply from 1 January 2016.
© Finextra Research 2014