Summary
This directive amends EU laws to centralize the supervision of financial data reporting under ESMA and strengthen EIOPA's role in overseeing insurance company risk models. 10 27.12.2019
Other
finance
insurance
european union
public administration
financial institutions and credit
Key points
- The authorization and supervision of companies providing financial data reporting services will be moved from national authorities to ESMA.
- EIOPA will be given more power to advise national supervisors on the risk models used by insurance companies.
- New platforms will be created to help national supervisors collaborate more effectively when insurance companies operate across different EU countries.
- The rules will provide clearer definitions for what constitutes a 'management body' and 'senior management' within investment firms.
Documents (PDFs)
REPORT on the proposal for a directive of the European Parliament and of the Council amending Directive 2014/65/EU on markets in financial instruments and Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II)
Markets in financial instruments and taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) ***I
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