European System of Financial Supervision

EIOPA consults on insurers’ key performance indicators on sustainability for non-financial reporting

Retrieved on: 
Tuesday, December 1, 2020
European Insurance and Occupational Pensions Authority, European Union, Insurance regulation, European System of Financial Supervision, Government, Reinsurance, Insurance, Finance, Capital requirement, Pan-European Pension, Own risk and solvency assessment

Hereby, EIOPA responds to a call for advice, addressed to the three European Supervisory Authorities, to support the European Commission in developing the definitions and methodologies to be used for the disclosure requirements stemming from the Taxonomy Regulation.

Key Points: 
  • Hereby, EIOPA responds to a call for advice, addressed to the three European Supervisory Authorities, to support the European Commission in developing the definitions and methodologies to be used for the disclosure requirements stemming from the Taxonomy Regulation.
  • In this consultation, EIOPA considers whether the mandatory ratios of non-financial undertakings, as set out in the Taxonomy Regulation, are relevant and appropriate to depict insurance and reinsurance activities or whether they need to be translated to the most appropriate and comparable key performance indicators for insurance and reinsurance businesses.
  • In accordance with the European Commissions call for advice, EIOPA closely cooperates with the two other European Supervisory Authorities to ensure consistent and coherent recommendations from the three authorities.
  • Go to the survey

    Following the public consultation, EIOPA will finalise its advice and submit to the European Commission in February 2021.

Re-election of EIOPA’s Vice-Chairperson and changes to EIOPA’s Management Board composition

Retrieved on: 
Friday, November 27, 2020
Insurance regulation, European Insurance and Occupational Pensions Authority, European Union, Institute for the Supervision of Insurance, Government agencies, Government, Gabriel Bernardino, Financial law, Financial Market Authority, Chairperson, Network for Greening the Financial System, European System of Financial Supervision

Today, the Board of Supervisors of the European Insurance and Occupational Pensions Authority (EIOPA) re-elected Mr Peter Braumller, Managing Director of Insurance and Pension Supervision at Austrian Financial Market Authority (FMA) as Vice-Chairperson of EIOPA.

Key Points: 
  • Today, the Board of Supervisors of the European Insurance and Occupational Pensions Authority (EIOPA) re-elected Mr Peter Braumller, Managing Director of Insurance and Pension Supervision at Austrian Financial Market Authority (FMA) as Vice-Chairperson of EIOPA.
  • In addition, Ms Zuzana Silberova, Executive Director of the Financial Market Supervision Department at the Czech National Bank was re-elected as a Member of the Management Board for a second term of office, and Mr Alberto Corinti, member of the Board of Directors at Italian national supervisory authority, Istituto per la Vigilanza sulle Assicurazioni (IVASS) was elected as a member of the Management Board.
  • The Management Board , chaired by EIOPA's Chairperson, Gabriel Bernardino, ensures that EIOPA carries out its mission and performs the tasks assigned to it in accordance with its Regulation.

ESMA publishes shortlist of candidates for position of Chair

Retrieved on: 
Thursday, November 26, 2020
European Union, Government agencies, Financial markets, Government, Financial law, Financial regulation, European Securities and Markets Authority, European System of Financial Supervision, European Insurance and Occupational Pensions Authority

26 November 2020

Key Points: 
  • 26 November 2020

    Board of Supervisors

    Corporate Information

    Press Releases

    The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, has published the shortlist of qualified candidates for the position of Chair, which it has sent to the Council of the European Union (Council) and the European Parliament (Parliament).

  • The Council will appoint the Chair following confirmation by the Parliament.
  • The Board of Supervisors has shortlisted the following candidates in alphabetical order of their surname:

    The shortlisted candidates were selected based on their merit, skills, knowledge of financial market participants and markets, and of their experience relevant to financial supervision and regulation, following an open selection procedure.

  • The envisaged start date of the incoming Chair is 1 April 2021.

The Board of Supervisors of EIOPA decides not to draw up a shortlist for the Chairperson position

Retrieved on: 
Friday, November 20, 2020
European Insurance and Occupational Pensions Authority, European Union, Insurance regulation, Government, Chairperson, Articles, European System of Financial Supervision, Pan-European Pension

The Board of Supervisors of the European Insurance and Occupational Pensions Authority (EIOPA) decided yesterday not to draw up at this moment in time a shortlist of qualified candidates for the position of EIOPA Chairperson, but to launch a new selection procedure.

Key Points: 
  • The Board of Supervisors of the European Insurance and Occupational Pensions Authority (EIOPA) decided yesterday not to draw up at this moment in time a shortlist of qualified candidates for the position of EIOPA Chairperson, but to launch a new selection procedure.
  • The new recruitment procedure will be discussed in the next Board of Supervisors meeting at the end of November and launched in the following weeks.
  • According to EIOPA Regulation, the Chairpersons term of office shall be 5 years and may be extended once.
  • Following an open selection procedure, the first vacancy notice for EIOPA Chairperson was published in the Official Journal of the European Union on 15 July 2020.

ESAs’ Board of Appeal dismisses case against ESMA on alleged non-application of Union law

Retrieved on: 
Monday, October 12, 2020
Agencies of the European Union, European Union, Government agencies, Government, Financial regulation, European System of Financial Supervision, European Insurance and Occupational Pensions Authority, European Securities and Markets Authority, Esma, European Banking Authority, Committee of European Securities Regulators

The Joint Board of Appeal of the European Supervisory Authorities (ESAs European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority) published today its decision in the appeal case brought by Mr Howerton against the European Securities and Markets Authority (ESMA).

Key Points: 
  • The Joint Board of Appeal of the European Supervisory Authorities (ESAs European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority) published today its decision in the appeal case brought by Mr Howerton against the European Securities and Markets Authority (ESMA).
  • The Board of Appeals decision considered as inadmissable the Appellants claim that six national financial supervisory authorities and ESMA should have taken supervisory steps in relation to an alleged non-application of Union law.
  • The Board of Appeal dismissed the appeal brought forward by Mr Howerton as inadmissible as the facts described by the Appellant do not relate in any way to aspects under the supervision of the relevant six national authorities nor of ESMA.
  • The Board of Appeal does not see, therefore, how the six national financial supervisory authorities and ESMA could investigate and take supervisory steps with regard to the facts described by the Appellant in his complaints and in the appeal.

ESAs’ Board of Appeal dismisses case against ESMA on alleged non-application of Union law

Retrieved on: 
Monday, October 12, 2020
Agencies of the European Union, European Union, Government agencies, Government, Financial regulation, European System of Financial Supervision, European Insurance and Occupational Pensions Authority, European Securities and Markets Authority, Esma, European Banking Authority, Committee of European Securities Regulators

The Joint Board of Appeal of the European Supervisory Authorities (ESAs European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority) published today its decision in the appeal case brought by Mr Howerton against the European Securities and Markets Authority (ESMA).

Key Points: 
  • The Joint Board of Appeal of the European Supervisory Authorities (ESAs European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority) published today its decision in the appeal case brought by Mr Howerton against the European Securities and Markets Authority (ESMA).
  • The Board of Appeals decision considered as inadmissable the Appellants claim that six national financial supervisory authorities and ESMA should have taken supervisory steps in relation to an alleged non-application of Union law.
  • The Board of Appeal dismissed the appeal brought forward by Mr Howerton as inadmissible as the facts described by the Appellant do not relate in any way to aspects under the supervision of the relevant six national authorities nor of ESMA.
  • The Board of Appeal does not see, therefore, how the six national financial supervisory authorities and ESMA could investigate and take supervisory steps with regard to the facts described by the Appellant in his complaints and in the appeal.

EIOPA submitted its opinion to the European Parliament on the discharge for the financial year 2018

Retrieved on: 
Thursday, September 24, 2020
European Insurance and Occupational Pensions Authority, European Union, Insurance regulation, Government agencies, Government, Own risk and solvency assessment, European System of Financial Supervision

EIOPA submitted to the European Parliament its opinion on the discharge decision.

Key Points: 
  • EIOPA submitted to the European Parliament its opinion on the discharge decision.
  • The document, adopted by the Board of Supervisors, provides an overview of the measures taken by EIOPA in the light of the observations and comments made by the European Parliament in respect of the implementation of the budget for the financial year 2018.
  • In the opinion, EIOPA points out specific actions taken related for example to enhanced cooperation on conduct risks with National Supervisory Authorities, supervisory convergence, closer supervision in some Member States, staff policies and procurement.
  • Read the opinion

ESAs launch survey on environmental and/or social financial product templates

Retrieved on: 
Tuesday, September 22, 2020
European System of Financial Supervision, European Union, Financial regulation, Government agencies, European Insurance and Occupational Pensions Authority, Corporate law, Government, SFDR, Regulation (EU) No 648/2012, ESAS, Business law

The European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published today a survey seeking public feedback on presentational aspects of product templates, pursuant to Article 8(3), Article 9(5) and Article 11(4) of the Regulation on sustainabilityrelated disclosures in the financial services (SFDR).

Key Points: 
  • The European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published today a survey seeking public feedback on presentational aspects of product templates, pursuant to Article 8(3), Article 9(5) and Article 11(4) of the Regulation on sustainabilityrelated disclosures in the financial services (SFDR).
  • The survey is open for comments until 16 October 2020.
  • The ESAs propose to standardise the disclosure of information for financial products that promote environmental and/or social characteristics or have a sustainable objective.
  • The final content of the templates is subject to the outcome of a concurrent consumer testing exercise and the ESAs final report on the draft RTS under SFDR.

ESAs launch survey on environmental and/or social financial product templates

Retrieved on: 
Tuesday, September 22, 2020
European System of Financial Supervision, European Union, Government agencies, European Insurance and Occupational Pensions Authority, Corporate law, Financial regulation, Government, SFDR, Regulation (EU) No 648/2012, ESAS, Business law

21 September 2020

Key Points: 
  • 21 September 2020

    Fund Management

    Joint Committee

    Sustainable finance

    The European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published today a survey seeking public feedback on presentational aspects of product templates, pursuant to Article 8(3), Article 9(5) and Article 11(4) of the Regulation on sustainabilityrelated disclosures in the financial services (SFDR).

  • The survey is open for comments until 16 October 2020.
  • The ESAs propose to standardise the disclosure of information for financial products that promote environmental and/or social characteristics or have a sustainable objective.
  • The final content of the templates is subject to the outcome of a concurrent consumer testing exercise and the ESAs final report on the draft RTS under SFDR.

ESAs launch survey on environmental and/or social financial product templates

Retrieved on: 
Tuesday, September 22, 2020
European System of Financial Supervision, European Union, Government agencies, European Insurance and Occupational Pensions Authority, Corporate law, Financial regulation, Government, SFDR, Regulation (EU) No 648/2012, ESAS, Business law

21 September 2020

Key Points: 
  • 21 September 2020

    Fund Management

    Joint Committee

    Sustainable finance

    The European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published today a survey seeking public feedback on presentational aspects of product templates, pursuant to Article 8(3), Article 9(5) and Article 11(4) of the Regulation on sustainabilityrelated disclosures in the financial services (SFDR).

  • The survey is open for comments until 16 October 2020.
  • The ESAs propose to standardise the disclosure of information for financial products that promote environmental and/or social characteristics or have a sustainable objective.
  • The final content of the templates is subject to the outcome of a concurrent consumer testing exercise and the ESAs final report on the draft RTS under SFDR.