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ARTICLE · 12 AUGUST 2022

Supervisory Statement On The Use Of Governance Arrangements In Third Countries

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The MFSA's Insurance and Pensions Supervision has published a notice that EIOPA has issued a Consultation Paper on the supervisory statement on the use of governance arrangements in third countries, including the UK.

MaltaFinance and Banking
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The MFSA's Insurance and Pensions Supervision has published a notice that EIOPA has issued a Consultation Paper on the supervisory statement on the use of governance arrangements in third countries, including the UK.

The supervisory statement is aimed at both undertakings and intermediaries. Its purpose is:

  1. To address, in a convergent manner, the expected level of corporate substance and appropriate presence that EU/EEA undertakings/intermediaries should have, even by those that are planning to launch operations; and
  2. To build a common Union supervisory culture and consistent supervisory practices, as well as ensuring uniform procedures and consistent approaches throughout the Union.

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