|
|
The consultation period closed on 7 February 2014. ESMA and the EBA received 31 responses to the CP, all of which have been published on the ESMA and the EBA websites.
The majority of respondents were supportive of the analysis of the cost and benefit impact of the proposed guidelines. Therefore, ESMA and the EBA consider that no changes need to be made to the CBA as set out in Annex 1 to the CP. The guidelines in Annex I hereto will be translated into the official languages of the European Union (EU), and published on the ESMA and the EBA websites. The application and reporting requirement dates set out in Annex I will start to run from the date of publication of the translations.
Some respondents suggested drafting amendments in order to further improve the text of the guidelines. ESMA and the EBA have reviewed these suggestions, but consider that the final guidelines for the securities and banking sectors should remain fully aligned with the EIOPA guidelines. This is to help ensure a consistent approach to complaints-handling across the investment, banking and insurance sectors in order to limit costs to firms and to more easily facilitate common supervisory oversight.