EIOPA issued its strategy and action plan on consumer detriment in occupational pensions

Pensions are of the utmost importance for consumers, but at the same time
pensions are often perceived as a very complex topic. In order to ensure
the protection of pension scheme members and beneficiaries, EIOPA
published a report (Link:
https://eiopa.europa.eu/activities/consumer-protection-and-financial-innovation/index.html
)to adopt a systematic approach to this issue. EIOPA will analyse and take
action on, for example, the following issues: Management of occupational
pension schemes (charges; value for money; training standards); Lack of
European convergence (portability of acquired rights); and Insufficient
availability and comparability of relevant information.


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Phone: +49 69 951119-20
Fax: +49 69 951119-19

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https://eiopa.europa.eu

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EIOPA consults on the use of Legal Entity Identifier

The European Insurance and Occupational Pensions Authority (EIOPA) invites
market participants and all the other interested parties to provide their
feedback on its draft Guidelines related to the use of the Legal Entity
Identifier (LEI).

It has been recognised that the lack of a commonly used identifier has a
negative impact on the quality of data collection, storage and
dissemination, making these processes costly and less efficient for
national supervisors and EIOPA. The purpose of the current draft
Guidelines is to facilitate the use of LEIs as unique identification codes
for (re)insurance undertakings as well as for institutions for
occupational retirement provision.

With these Guidelines, EIOPA supports the adoption of the LEI system
proposed by the Financial Stability Board and endorsed by the G20. This
system aims at achieving a unique, worldwide identification of parties to
financial transactions.

The consultation will end on 29 August 2014. Please note that comments
submitted after the deadline or not submitted on the provided template
cannot be processed.

The consultation paper and the template for comments can be viewed here
(Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html#c6551 )


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WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19

info@eiopa.europa.eu
https://eiopa.europa.eu

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If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.

The EIOPA Opinion on Payment Protection Insurance triggered significant action

EIOPA's Opinion on miss-selling in Payment Protection Insurance (PPI)
triggered significant initiatives (Link:
https://eiopa.europa.eu/activities/consumer-protection-and-financial-innovation/index.html
) in a number of national markets while in others new actions follow
previous ones. Most of the recent developments focus on information
provision, cross-selling/commission issues and selling practices in
general. EIOPA will continue to monitor national developments, and decides
on any potential follow-up action at a later stage. This information
results from feedback from National Competent Authorities (NCAs).


This newsletter was sent to you by:

EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19

info@eiopa.europa.eu
https://eiopa.europa.eu

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If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.

EIOPA's ITS endorsed by European Commission

The Implementing Technical Standards (Link:
https://eiopa.europa.eu/publications/technical-standards/index.html )
(ITS) on reporting of prudential provisions in occupational pensions was
endorsed and has been published in the Official Journal as Commission
Regulation No 643/2014. The ITS promotes transparency and comparability of
national provisions of prudential nature in the EU and also helps
promoting cross-border activities of IORPs. It provides a uniform way of
transmitting and updating the relevant information to EIOPA by competent
authorities.


This newsletter was sent to you by:

EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19

info@eiopa.europa.eu
https://eiopa.europa.eu

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password on the login page of the EIOPA Restricted Area.

EIOPA published a speech by Gabriel Bernardino, Chairman of EIOPA, at the AMICE Congress 2014 in Nice

EIOPA published a speech by Gabriel Bernardino, Chairman of EIOPA, at the
AMICE Congress 2014 in Nice.

Click here (Link:
https://eiopa.europa.eu/press-room/speeches-presentations-and-interviews/index.html
)to read the speech.


This newsletter was sent to you by:

EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19

info@eiopa.europa.eu
https://eiopa.europa.eu

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If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.

EIOPA publishes its Annual Report 2013

The European Insurance and Occupational Pensions Authority (EIOPA)
published today its Annual Report 2013.

2013 has marked the third year since the establishment of the European
System of Financial Supervision (ESFS) and the foundation of EIOPA as part
of this System. EIOPA continued to develop its role and profile within the
European supervisory landscape. The Annual Report 2013 sets out EIOPA's
main achievements of meeting its strategic objectives related to the
enhanced consumer protection; development of sound regulation; improved
supervision; and timely identification and management of risks to
financial stability. The publication also describes the work EIOPA has
undertaken to ensure efficiency and effectiveness of its operation.

Gabriel Bernardino, Chairman of EIOPA, stated: "In all the major areas of
our work we delivered important milestones during 2013. In our daily
business we adhered to the corporate values of EIOPA. We acted
independently and objectively. Our advices and reports were based on in
depth analysis and research and benefited from transparent public
consultation processes and specific discussions and input from our two
stakeholder groups. Accountability and transparency have been the
cornerstones of our relations with the external world".

Carlos Montalvo, Executive Director of EIOPA, emphasised: "Going forward,
three years since the ESFS's creation, the time for reviewing the System
is approaching. I therefore call upon the EU public institutions to seize
this opportunity to make the operation of the ESFS more dynamic and
efficient. EIOPA has proved to be successful, but we have much greater
potential. The chance to improve the ESFS is one not to be missed!"

The full text of the Annual Report 2013 is available here
(Link:
https://eiopa.europa.eu/publications/annual-reports/index.html )



This newsletter was sent to you by:

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WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19

info@eiopa.europa.eu
https://eiopa.europa.eu

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If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.

European Commission asks EIOPA for advice on transferability of supplementary pension rights

European Commission asks EIOPA for advice on transferability of
supplementary pension rights.
Click here (Link:
https://eiopa.europa.eu/publications/requests-for-advice/index.html )to
see the call for advice


This newsletter was sent to you by:

EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19

info@eiopa.europa.eu
https://eiopa.europa.eu

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password on the login page of the EIOPA Restricted Area.

EIOPA organizes a public event on Insurance Mediation Directive

EIOPA is hosting a public event in Frankfurt on 11th July 2014. An exchange
of views on the EIOPA Discussion Paper (Link:
https://eiopa.europa.eu/consultations/consultation-papers/index.html#c6483 )
on conflicts of interest in sales of insurance-based investment products
is planned. This follows the mandate from the European Commission to EIOPA
for technical advice. Topics that will be addressed during the event
include
what are the types of conflict of interest that could harm customers? how
can these conflicts of interest be best avoided or managed? how can
conflicts of interest be best addressed for very small intermediaries?
what are the challenges in addressing conflicts of interest for large
insurance undertakings? what are the disclosures that should be made to
customers, and when?

EIOPA has published the preliminary programme (Link:
https://eiopa.europa.eu/conferences-events/2014/public-event-on-insurance-mediation-directive-frankfurt/index.html
) on its website. Participants are welcomed to register. Places are
limited, confirmations will be sent two weeks in advance of the event.


This newsletter was sent to you by:

EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19

info@eiopa.europa.eu
https://eiopa.europa.eu

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password on the login page of the EIOPA Restricted Area.

EIOPA Conference - 19 November 2014 (Frankfurt) REGISTER NOW!

Dear Sir or Madam,

The European Insurance and Occupational Pensions Authority (EIOPA) is
pleased to announce that registration for its annual conference is now
open. The 4th edition of the EIOPA Conference, taking place on 19 November
2014 in Frankfurt am Main, is organised in the framework of Europe's
largest meeting point for the finance and insurance industry: the Euro
Finance Week.

Besides speeches from key-position holders at European Institutions, the
event will include three panel discussions entitled as follows:

- "Long-term financing of the economy – Sustainable Growth?"
- "Pensions - Does the new EU Pensions Directive reflect the needs of
IORPs in Europe?"
- "Solvency II - From Regulation to Supervision"

High-profile speakers will offer in-depth analyses to over 350 participants
from the financial services industry, EU institutions, as well as consumer
representatives, consultants, academics and national supervisory authority
staff.

We are confident that this year's Annual Conference will be a unique
opportunity for very interesting and lively dialogues, giving an
opportunity to exchange views on the recent regulatory and supervisory
developments in the (re)insurance and pensions sectors.

Registration is now open at the link below on the website of the Conference
organiser (online registration). Please note that you can register at a
reduced rate of EUR 690 plus VAT. However, this "early-bird" rate is
only valid until 31 July 2014:
http://www.malekigroup.com/en/event/eiopaconference111111-Info.html
(Link:
http://www.malekigroup.com/en/event/eiopaconference111111-Info.html )

The detailed programme will be circulated in due course. In the meantime,
should you have any questions, please feel free to contact us at
EIOPAConference@eiopa.europa.eu (Link:
EIOPAConference@eiopa.europa.eu ).

We look forward to inspiring discussions and networking opportunities in
the dynamic setting of the 17th EURO FINANCE WEEK.


This newsletter was sent to you by:

EIOPA
WesthafenTower | Westhafenplatz 1 | 60327 Frankfurt | Germany
Phone: +49 69 951119-20
Fax: +49 69 951119-19

info@eiopa.europa.eu
https://eiopa.europa.eu

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Please login to the Restricted Area of the EIOPA website and change
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If you forgot your password, you will find a link to receive a new
password on the login page of the EIOPA Restricted Area.