European Insurance: General (5 September 2016)

OAC Digest
EU / European Parliament / EIOPA, Investments

05 September 2016

Selected recent European Insurance news items of more general interest:

On 1 September 2016 it was announced that "[the European] Parliament’s Economic and Monetary Committee [ECON] rejected as “misleading” and flawed, proposals aimed at providing greater protection to consumers buying packaged financial products, and unanimously voted to send the proposals back to the European Commission for revision."  ECON calls on the Commission to consider a proposal postponing the application date of the regulation. EFAMA, the representative association for the European investment management industry, support a delay "because it is materially impossible and simply unrealistic ... to meet the 31 December 2016 deadline."

On 31 August 2016, the FSB published the second annual report on the Implementation and Effects of the G20 Financial Regulatory Reforms. The report "concludes that implementation progress remains steady but uneven, and that the strengthened resilience due to the reforms has stood the global financial system in good stead."

David Gray

For more information
David Gray
Consultant Actuary

< Back to News & insight

Related

26 June 2017

UK Insurance: FCA (26 June 2017)

Selected recent news from the UK's prudential regulator: Appointed Representatives follow up, call for input on access to insurance, cyber security guide and money laundering developments.