The Commission in its Communication of 4 March 2009 "Driving European recovery" underlines the need to reinforce the protection of consumers, investors and small companies. The Commission stresses that additional measures are needed to reinforce depositor, investor and policyholder protection. An effective and comprehensive legal framework for retail financial services needs to be put in place. The Commission will therefore review, by the end of 2009, the adequacy of existing guarantee schemes in insurance and make appropriate legislative proposals.
To this end the Commission will adopt a White Paper setting out a European solution on insurance guarantee schemes including appropriate follow-up measures by the end of this year. The White Paper will be based on the work of the Working Party on IGS, the findings of the OXERA Report Insurance Guarantee Schemes in the EU and the results of the public consultation on those findings last summer as well as informal consultations with stakeholders this year. In line with the better regulation principles the White Paper will be accompanied by an impact assessment.
In this context the Commission has send out a letter to CEIOPS.
Letter from Jörgen Holmquist, Director General Internal Market and Services, of 5 May 2009 to CEIOPS' Chair Dr. Thomas Steffen
On 8 May 2009 the Commission held an informal stakeholder meeting in Brussels.
Minutes of stakeholder meeting
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