EIOPA consults on advice on the securitisation prudential framework review
  • Tuesday, 13 September 2022

EIOPA consults on advice on the securitisation prudential framework review

The European Insurance and Occupational Pension Authority (EIOPA) has published a consultation on the advice on the review of the securitisation framework in Solvency II. In October 2021, the European Commission sent a Call for Advice (CfA) to seek assistance to assess the performance rules on capital requirements and liquidity requirements relative to the framework’s […]

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ECB/ESRB report shows climate shocks can put financial stability at risk
  • Tuesday, 13 September 2022

ECB/ESRB report shows climate shocks can put financial stability at risk

The European Central Bank (ECB) and the European Systemic Risk Board (ESRB) published a joint report on the potential effects of climate shocks on the European Financial system. The report shows that climate risks can spread rapidly and can harm insurers, asset managers, and other financial institutions. Additionally, the report gives evidence on the systemic […]

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EIOPA publishes guidance on climate change in ORSA
  • Tuesday, 13 September 2022

EIOPA publishes guidance on climate change in ORSA

In addition, EIOPA has published the final version of the application guidance on climate change materiality assessments and climate change scenarios in the Own Risk and Solvency Assessment (ORSA). Since EIOPA believes that undertakings will be impacted by climate-change related physical and transition risks, EIOPA encourages a more forward-looking management of these risks. Currently, undertakings […]

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ESMA comments on draft of European Sustainability Reporting Standards
  • Tuesday, 13 September 2022

ESMA comments on draft of European Sustainability Reporting Standards

The European Securities and Markets Authority (ESMA) has responded to the European Financial Reporting Advisory Group’s (EFRAG) consultation on the first draft of the European Sustainability Reporting Standards (ESRS). The draft ESRS are an important element to achieve the Corporate Sustainability Reporting Directive’s (CSRD) ambition to ensure sustainability reporting which is relevant, reliable, comparable and […]

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EBA publishes final guidelines on the review and evaluation process for investment firms
  • Tuesday, 13 September 2022

EBA publishes final guidelines on the review and evaluation process for investment firms

The EBA, jointly with the European Securities and Markets Authority (ESMA), published the final guidelines on common procedures and methodologies for the supervisory review and evaluation process (SREP) for investment firms. They set out the common process and criteria for the assessment of the main SREP elements, including: business model; governance arrangements and firm-wide controls; […]

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