The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) issued its fifth consultation paper related to a Draft Protocol on the collaboration of the supervisory authorities. The Protocol provides a framework for the cooperation of supervisory authorities in the implementation of the Directive on the activities and supervision of institutions for occupational retirement provision („IORPs“) in relation to the supervision of IORPs that operate cross border.
The Draft Protocol states general principles for cooperation and establish procedures for the authorisation of IORPs, the notification process and the additional exchange of information between supervisory authorities.
The Draft Protocol deals with the activity of the relevant supervisory authorities in applying the supervision as defined by the IORP Directive and it is not addressed to the activity of IORPs as such.
The implementation of the IORP Directive in the EU Member States is envisaged by 23 September 2005.
Comments are to be received by 30 May 2005.
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