EIOPA has submitted its draft technical specifications on the launch of the quantitative impact study (QIS) for the revised IORP Directive to the European Commission, after it received 117 responses from across Europe to its consultation process.
In a statement, EIOPA said its advice recognised the importance of performing a QIS and remained conditional on the results of the study. "The consultation responses have been carefully considered, and, in some cases, the technical specifications were adjusted in the light of the comments and suggestions received", the authority said. "EIOPA identified a number of areas in the technical specifications that needed to be further developed and tested in follow-up QIS exercises."
The remaining feedback came from trade unions, insurers, actuarial consultants and asset managers. The Commission will now consider the contents of the draft technical specifications and – after possible amendments – decide on the launch of the formal QIS exercise. Confirming previous reports by IPE, EIOPA said today the QIS was expected to be launched in the first half of this month and would run until mid-December 2012. EIOPA plans to publish the results of the QIS in the second quarter of 2013.
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