The main tasks of EIOPA are to enhance supervisory convergence, strengthen consumer protection and preserve financial stability. Through its oversight function, underpinned by the Authority’s founding regulation, EIOPA supports national supervisory authorities in the task of delivering high-quality, effective supervision, as well as overseeing the level playing field and appropriate application of supervisory measures within the EEA.
EIOPA has developed a range of tools to support oversight. In this context, peer reviews have proved essential as a means of increasing consistency and effectiveness in the outcome of supervisory actions. Peer reviews have also proved productive in strengthening dialogue within and between supervisory authorities and in facilitating sharing of best practices.
EIOPA conducts peer reviews based on an agreed methodology, with experts from national supervisory authorities acting as reviewers in coordination with EIOPA. In line with its mandate, the outcomes of peer reviews, including identified best practices, are made public. Where there may be a risk to the stability of the financial system, the Board of Supervisors may decide not to publish certain outcomes.
The current report presents the results of the Peer Review on the Regular Supervisory Report (RSR).