The European Insurance and Occupational Pensions Authority (EIOPA) invites market participants and (re)insurance stakeholders to provide their feedback on the draft Guidelines on the Operational Functioning of Colleges of Supervisors. The Guidelines aim to clarify and enhance cooperation among competent authorities with regard to the supervision of cross-border insurance or reinsurance groups and to facilitate the functioning of supervisory colleges. They address such issues as cooperation between competent supervisory authorities for cross-border groups, information-sharing among supervisors and communication to the (re)insurance groups.

The consultation will end on 30 June 2014. Comments should be submitted via email to [email protected]. 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: https://eiopa.europa.eu/consultations/consultation-papers/index.html

Legal background EIOPA Guidelines are non-binding instruments addressed to National Competent Authorities (NCAs) or Financial Institutions. Their aim is to ensure common, uniform and consistent application of Union law as well as to establish consistent, efficient and effective supervisory practices drafted by EIOPA in accordance with Article 16 of the Regulation establishing EIOPA. The Guidelines shall be in line with the Solvency II Directive and Implementing Measures, which the Guidelines are aiming to clarify.