Follow Us

Follow us on Twitter  Follow us on LinkedIn

Article List:

 

31 July 2013

Insurance Europe: EIOPA should be maintained as separate supervisory authority


In its response to the European Commission's consultation on the review of the European System of Financial Supervision, Insurance Europe highlighted its support for maintaining EIOPA as a separate European authority.

Insurance Europe highlighted its strong support for the need to maintain EIOPA as a separate European authority, saying it was the only way for the European supervisory architecture to ensure that all sectors’ specificities are duly considered, through dedicated technical experts.

However, Insurance Europe advised against the European supervisory authorities using instruments, such as guidelines, to enlarge their regulatory powers.

In relation to the European Systemic Risk Board (ESRB), Insurance Europe calls for a stronger insurance voice on cross-sectorial issues. It is also important to ensure that the ESRB has the capacity to speak with an independent voice with a clear focus on issues which are systemically risky in nature.

Full response



© InsuranceEurope


< Next Previous >
Key
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information



Add new comment