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With its answers to the first wave of Call of Advice CEIOPS gives its views mainly on so-called Pillar II requirements of prudential regulation, e.g. Supervisory Review Process, but also touches upon some aspects of Pillar I requirements financial requirements. The ‘Draft Answers to the second wave of Calls for Advice’ cover essential and critical aspects of prudential regulation, such as the assessment of technical provisions and capital requirements. The deadline for consultation is 30 September 2005.
CEIOPS third progress report to the European Commission provides brief updates on each of the Calls for Advice in the ‘third wave’ summarising some of the technical issues identified and describing how CEIOPS is planning to advance the work. In some cases, options under consideration in the Working Groups have been highlighted.
On the third wave of calls, the Solvency II Working Groups and the Financial Stability Committee will develop the Draft Answers until the end of September 2005 which will be approved by CEIOPS' Members Meeting on 27 October 2005. The consultation deadline on these draft answers will be end January. The final answers are expected to be transmitted to the European Commission by 28 February 2006.
Press release
Third Progress Report
Answers on ‘first wave’ of Calls for Advice
Draft Answers on ‘second wave’ of Calls for Advice