The European Insurance and Occupational Pensions Authority (EIOPA) has outlined a series of reforms for 2017 and beyond that it believes are necessary to avert serious financial crises in the future. Speaking at the EIOPA 6th Annual Conference in Frankfurt, chairman Gabriel Bernardino, outlined the organisation’s focus throughout 2016 and into 2017 with Solvency II changes, European Union pensions legislation […]
deVere Group, a global IFA, and the UK Association of Investment Companies, have both responded to the confirmation that the UK will trigger Article 50 negotiations by March 2017, by issuing warnings of the path facing investors. Nigel Green, CEO of deVere Group, says that investors are set to “dump” UK assets between now and […]
Just a week following the announcement to expand its QE programme with a £70bn purchase of long-dated government bonds, the Bank of England (BoE) faced its first challenges of the second day of operation, with institutional investors unwilling to sell long-dated bonds to the Central Bank. According to a statement released by the BoE today, […]
The European Insurance and Occupational Pensions Authority (EIOPA) has launched an EU-wide stress test for the European insurance sector. This is the first regular stress exercise, since the implementation of the Solvency II equity and Long Term Guarantees (LTG) measures. It aims to assess insurers’ vulnerabilities and is designed to assess the resilience of the […]
The European fund industry through its regional trade assoication Efama has lent strong support to proposals in the latest European Commission Green Paper on retail financial services. In a statement Efama president Alexander Schindler said the paper would continue to remove barriers for consumers and businesses to help facilitate the emergence of a true single […]
The board of supervisors of the European Insurance and Occupational Pensions Authority (Eiopa) has confirmed the selection of Fausto Parente as new executive director, subject to approval by the European Parliament. Parente is currently head of the Supervisory Regulation and Policy Directorate at the Italian Insurance Supervisor Istituto di Vigilanza sulle Assicurazioni (IVASS). As executive […]
The European Insurance and Occupational Pensions Authority (EIOPA) has announced the election of three members of EIOPA’s Management Board to replace three departing members. The three new members are Julia Cillikova, director of the Regulation Department of the National Bank of Slovakia; Frank Grund, chief executive director of the German Federal Financial Supervisory Authority (BaFin) […]
As of 2015, Dutch life insurers will have to put in place transitional rules ahead of the Solvency II implementation in 2016, but is the insurance industry ready for it yet? From January 2015 on, the transitional regime (overgangsregime) ahead of Solvency II as introduced by the Dutch minister of Finance Jeroen Dijsselbloem will be […]
Proposals to apply Solvency II’s long-term guarantees package to cross-border businesses will make political agreement on the recommendations harder to achieve, experts say.
The one-size-fits-all approach to Solvency II regulation under EIOPA could spell trouble where those affected rely on bonds of different types and durations, suggests research from EDHEC, the French business school.
Dividends paid to investors in Swedish life and insurance companies could be cut by a new rule proposed by the Swedish Financial Supervisory Authority to guarantee savers’ future returns.
European regulators are still unsure to what extent swaps counterparties should be required to provide and collect initial margin on uncleared derivatives trades, and are considering three potential options.