EIOPA Work Programme 2013 - EIOPA - Europa

• Supervisory handbook addressing best practices in the supervisory review
process based on issues of importance for supervisory processes. It is
aimed to promote appropriate supervisory convergence while preserving
the necessary flexibility in supervisory practices
• Question & Answer procedure to be able to provide immediate answers to
practical or supervisory questions on established Guidelines and
Recommendations and Standards. The answers will be made available to
supervisory authorities and in particular Colleges to promote consistency
in supervisory practices
• Centre of expertise supporting National Supervisory Authorities in the field
of the approval of internal models, ensuring at the same time that an
enhanced understanding at the national level is translated into more
efficient discussions and decision making processes within Colleges of
supervisors on what regards group modelling.
EIOPA staff will also start to participate in joint on site inspections of insurance
companies. EIOPA’s participation in on site inspections shall be aligned to
EIOPA’s competencies with regard to its oversight function. It shall focus on the
preparation of joint on site inspections, ensuring comprehensiveness of the
content as well as efficiency and effectiveness of the process. EIOPA will assist
supervisory authorities in their discussions related to findings by in particular
contributing with best practices.
3.3. Breach of Union Law
EIOPA has the competence to investigate alleged cases of breach or non
application of Union Law on the basis of a request from competent authorities,
European Institutions or Stakeholders groups, or on its own initiative. Where
necessary, EIOPA may address recommendations to competent authorities if the
alleged breach undermines the foundations of the rule of law, concerns a
repeated infringement or has a significant, direct impact on EIOPA’s objectives,
such as the functioning of the internal market or the prevention of regulatory
arbitrage.
In limited specific circumstances, EIOPA may issue decisions to individual firms
setting out the action necessary to comply with Union law. EIOPA stands ready to
accept eligible requests for investigations, following the procedures adopted in
2012 to ensure sound and transparent decision making.
12/65
© EIOPA 2012