Solvency II set for inconsistent soft launch, lawyers warn
Absence of legal powers to enact guidelines in some jurisdictions threatens Eiopa’s objectives
Unequal powers of national regulators and legal limits to enforcement are likely to result in a patchy implementation of the interim rules for Solvency II, legal experts are warning.
The European Insurance and Occupational Pensions Authority (Eiopa) launched a consultation on its proposed interim measures on March 27.
The proposals include measures relating to systems of governance, forward-looking assessments of an insurer’s own risks, the submission of information to national regulators and
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