This final report presents new draft amending regulatory technical standards (RTS) on the risk mitigation techniques for OTC derivative contracts not cleared by a CCP (bilateral margining) that the European Supervisory Authorities (ESAs) have developed under Article 11(15) of EMIR1 . The draft RTS...
Report, which provides a comprehensive analysis on the completeness, adequacy and uniformity of the applicable laws and practices on the withdrawal of license for serious breaches of the rules on anti-money laundering and countering the financing of terrorism (AML/CFT).
Building on its ambitious agenda for sustainable finance, and in particular on the sensitivity analysis of asset-side transition risks published in 2020, EIOPA launched a follow-up exercise on physical risks in the second half of 2021. This discussion paper presents the first results of this...
Joint ESA Supervisory Statement on expectations regarding the 'What is this product' section in PRIIPs KID
The objective of this Supervisory Statement is to achieve a high, effective and consistent level of regulation and national supervision promoting a level playing field and the protection of retail investors. The ‘What is this product?’ section is the first descriptive section of the KID and is an...
Mandate to the ESAs to develop SFDR regulatory technical standards on product exposures to gas and nuclear activities
Mandate to the ESAs to develop SFDR regulatory technical standards on principal adverse impacts indicators
On 29 April 2021, EIOPA launched a public consultation on a ‘ Discussion paper on blockchain and smart contracts in insurance ’ with the aim of providing a high-level overview of risks and benefits of blockchain and smart contracts in insurance from a supervisory perspective as well as to gather...
Regulation | Sustainability
The European Supervisory Authorities (EBA, EIOPA and ESMA) published a Consultation Paper seeking input on draft Regulatory Technical Standards (RTS) on the content, methodologies and presentation of information in respect of the sustainability indicators for Simple, Transparent and Standardised (...
Regulation | PRIIPs
This Report presents the European Supervisory Authorities’ (ESAs) technical advice to the Commission on Regulation (EU) No 1286/2014 (PRIIPs Regulation) 1 following a request received from the Commission on 27 July 20212 . It will serve as input to the Commission’s work to develop a strategy for...
On 27 July 2021, EIOPA received a request from the European Commission, as part of its Retail Investment Strategy, to provide technical advice on a number of specific areas in the field of retail investor protection such as enhancing consumer disclosures, tackling damaging conflicts of interest in...
Public consultation on the revised Decision on EIOPA's regular information request towards NCAs regarding the provision of occupational pensions information
The aim of the public consultation is to improve IORPs reporting focusing on emerging risks and new challenges and issues observed by NCAs and pensions industry since its first implementation in 2018. In the consultation package EIOPA proposes to amend its current Decision by including the...
Final Reports on the revision of EIOPA Guidelines on Contract Boundaries and Guidelines on the Valuation of Technical Provisions
During the 2020 review of Solvency II EIOPA identified several divergent practices regarding contract boundaries assessment and the valuation of best estimate, as presented in the analysis background document to EIOPA’s Opinion on the 2020 review of Solvency II. Divergent practices require...
In 2021, the Joint Committee under the chairmanship of the ESMA, continued to have a central role for the coordination and exchange of information between the European Supervisory Authorities (ESAs), the European Commission (EC) and the European Systemic Risk Board (ESRB). The main areas of cross-...
The report highlights the increasing vulnerabilities across the financial sector as well as the rise of environmental and cyber risks. It also includes a preliminary assessment of the consequences of Russia's invasion of Ukraine.
Sustainability | IDD
Public consultation on draft Guidelines on integrating the customer’s sustainability preferences in the suitability assessment under the IDD
EIOPA’s draft Guidelines provide guidance on: How to help customers better understand the concept of “sustainability preferences” and their investment choices; The collection of information on sustainability preferences from customers; How to match customer preferences with products, based on the...
Stress test | Disclosure
Opinion to institutions of the European Union on individual disclosures in the context of EU-wide stress test exercises
The present Opinion calls for a consistent and disciplined communication of individual stress test results to enhance market discipline, increase stress test participants’ commitment and contribute to a level playing field among insurers and across the financial sector.
The aim of the statement is to ensure that a high-quality and convergent supervision is applied to run-off undertakings and portfolios while taking into account their specific nature and risks, the principle of proportionality and the prudent person principle.
Reporting | Disclosure
The amendments have been publicly consulted in 2021 and based on the feedback received further reviewed and in many cases changes introduced in line with the comments received. The current draft is considered by EIOPA balanced and is expected to bring several benefits, which will ultimately lead to...