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ARTICLE · 17 JULY 2014

Another Piece Of The Puzzle: Solvency II Guidelines Under Consultation

De Brauw Blackstone Westbroek
De Brauw Blackstone Westbroek
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De Brauw Blackstone Westbroek

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Guidelines are non-binding instruments, addressed to National Competent Authorities (NCAs) or financial Institutions.

NetherlandsFinance and Banking
DaniëLle Pos
DaniëLle Pos
Björn Schep
Björn Schep
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In a recent publication, we highlighted that with the approval of the Omnibus II Directive (O2), the Solvency II framework Directive (2009/138/EC: S2) is finally final and noted that further details concerning many subjects still need to be provided in delegated and implementing acts and in guidelines. The European Insurance and Occupational Pensions Authority (EIOPA) has recently concluded its public consultation on the first set of Implementing Technical Standards (ITS) and is currently in the process of consulting the first set of guidelines (S2 GL). Insurers should participate in this consultation to be able to influence their future regulatory landscape.

Guidelines are non-binding instruments, addressed to National Competent Authorities (NCAs) or financial Institutions. They aim to ensure the common, uniform and consistent application of European Union law and to establish consistent, efficient and effective supervisory practices. Though the GL are non-binding,

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