supervisory cooperation in cross-border activities

30 Jun: EIOPA continues to reinforce supervisory cooperation in cross-border activities

(Source: EIOPA)

The European Insurance and Occupational Pensions Authority (EIOPA) amended the Decision on the collaboration of the insurance supervisory authorities of the Member States in the European Economic Area. The new Decision will further strengthen and enhance the cooperation between the national competent authorities (NCAs) in relation to cross-border activities through:

the introduction of three new notifications requirements for NCAs: notification in case of intention to authorise an undertaking with cross-border activities, in case an undertaking carrying out cross-border activity shows deteriorating financial conditions or other emerging risks which may have cross-border effects and in case of serious and reasoned…