Consultation on Guidelines on exclusions from scope of group supervision - Solvency II Review

These Guidelines are developed in the context of the review of Directive 2009/138/EC. The amended Article 214(3) requires the group supervisor to consult with EIOPA and the other supervisory authorities concerned before deciding to exclude one or more undertakings from the scope of group supervision where that would not trigger the application of group supervision under Article 213(2)(a) to (c) of Directive 2009/138/EC. These decisions can be taken in exceptional circumstances and shall then be justified to EIOPA and reassessed at least annually. This also applies for the exclusion of the ultimate parent undertaking from group supervision. The Guidelines are based on the mandate for EIOPA to further specify the exceptional circumstances where it may be justified to exclude one or more undertakings from the scope of group supervision that would not trigger group supervision or to exclude the ultimate parent undertaking.