The European Insurance and Occupational Pensions Authority (EIOPA) published the outcome and the final report of the public consultation related to the Guidelines on the Operational functioning of colleges of supervisors.

 

EIOPA intends to issue the Guidelines on the Operational Functioning of Colleges of Supervisors in all the official EU languages in the first quarter of 2015. They will become applicable on 1 January 2016.

 

The general comments are supportive as regards the usefulness of the Guidelines on the operational functioning of colleges. The role of these guidelines in ensuring convergence and clarity in the functioning of colleges was underlined. 

 

Stakeholders expressed support for the idea of specialised teams. The need for flexibility and proportionality was underlined in a number of comments. 

 

Stakeholders also proposed a greater involvement of the group in the preparation and conduct of college meetings. A number of comments referred to the need to clarify certain issues, such as the distinction between members and participants or the relation between the college work plan and the supervisory plan.

 

Several stakeholders raised concerns about the establishment of colleges at sub-group level. Some stakeholders proposed to cover additional topics, which were considered out of scope by EIOPA, in these guidelines.

 

Key topics raised during the public consultation were described in the section “Specific comments on the Guidelines and Impact Assessment”. All comments received were given careful consideration by EIOPA in Annex II.

 

Full report