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European Insurance and Occupational Pensions Authority

Q&A on regulation

EIOPA ensures consistent and effective application of European regulation

The objective of EIOPA's Question and Answer process on regulation (Q&A process) is to ensure consistent and effective application of European regulation and to foster supervisory convergence in the EEA within EIOPA's scope of action.

In accordance with Article 16b of Regulation (EU) No 1094/2010, any natural or legal person, including financial institutions, competent authorities and Union institutions and bodies  can use the Q&A process for submitting questions relating to the practical application or implementation of the provisions of legislative acts, associated delegated and implementing acts and EIOPA’s guidelines and recommendations in the field  of insurance and pensions within EIOPA’s competence. The Q&A process further includes in its scope questions on the production by EIOPA of the risk free rates for the calculation of technical provisions and the equity dampener. Questions can be submitted in any official language of the Union.

How is EIOPA handling QAs?

Financial institutions are required to consider whether to address the question in the first place to their competent authority before submitting it to EIOPA.

EIOPA will forward questions that require the legal interpretation of Union law to the European Commission and then publish the answers provided by the European Commission.

The answers provided by the European Commission clarify provisions already contained in the applicable legislation. They do not extend in any way the rights and obligations deriving from such legislation nor do they introduce any additional requirements for the concerned operators and competent authorities. The answers are merely intended to assist natural or legal persons, including competent authorities and Union institutions and bodies, in clarifying the application or implementation of the relevant legal provisions. Only the Court of Justice of the European Union is competent to authoritatively interpret Union law. The views expressed in the internal Commission Decision cannot prejudge the position that the European Commission might take before the Union and national courts.

EIOPA may reject questions it does not intend to answer. This applies to questions which could not or should not be answered via this process. These include hypothetical questions; questions that seek to reinterpret the regulation; questions which do not identify an issue of practical implementation; questions seeking confirmation of a requirement already clearly set out in the regulation; questions that have been answered before or that are not related to the scope of the Q&A process (e.g. EIOPA Regulation); questions that relate to national law or institution-specific questions requiring bespoke advice, etc. Rejected questions are also published on EIOPA website.

Questions should be submitted on the application and implementation of technical standards only once they are published in the Official Journal of the European Union. A different approach is followed with respect to certain draft Implementing Technical Standards on Reporting and Disclosure in order to allow institutions and competent authorities to make the necessary preparations or changes to their reporting systems.

EIOPA publishes its answers to admissible questions unless such publication is in conflict with the legitimate interest of the persons concerned or involves risks to the stability of the financial system.

The Q&As have no binding force in law. However, their application will be scrutinised and challenged by EIOPA and competent authorities given their practical significance to achieve a level-playing field.

Before submitting a question, it is strongly encouraged to check in the ‘search’ function of the web tool if the same question has not yet been submitted or answered before submitting it again.

Please check Q&As published on the Internal Models templates regarding the (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision and the 2.8.0 taxonomy release here.

Search, download and submit QAs




Find QAs on topics handled jointly by the three European Supervisory Authorities (EBA, ESMA and EIOPA), such as EMIR, DORA, FICOD, MiCA, PRIIPs, SFDR, and Securitisation Regulation on the dedicated
Joint QAs section