|EIOPA Guidelines - supervisors have|
been 'hanging on like a yo-yo'
The consultation is open until June 19th, but the guidelines once finalised will apply from Jan 1st 2014.
EIOPA will apply them proportionally to the national supervisors, who in turn are asked to "...regard the burden on small and medium sized undertakings" when incorporating these guidelines into national regulatory landscape. May be the first acknowledgement of disproportionately burdening SMEs I have seen from EIOPA!
Those 4 areas are:
- System of Governance (L2 final advice here)
- Forward-looking assessment of Risk/ORSA (issues paper here)
- Submission of information to national authorities (L2 advice here)
- Pre-application for internal models (L3 guidance here)
I'll pick these off as separate posts and link them back to this page, so sers toi in the meantime and happy reading!