Consultation Paper on the draft proposal for ... - Eiopa - Europa

Guideline 54 Undertakings’ reporting policy
3.63. Undertakings should in their reporting policy:
a) detail who is responsible for drafting any reporting to the supervisor
along with those who are responsible for reviewing any reporting to the
supervisor;
b) set out processes and timeline for completion of the various reporting
requirements and review and approval by the administrative, management
or supervisory body before reporting; and
c) explain the processes and controls for guaranteeing the reliability,
completeness and consistency of the data provided and facilitate the
analysis and comparison throughout the years.
Guideline 55 RSR – Approval by Administrative, Management or
Supervisory Board
3.64. Undertakings should have the RSR approved by the administrative,
management or supervisory body of the undertaking.
Compliance and Reporting
3.65. This document contains Guidelines issued under Article 16 of the EIOPA
Regulation 6 . In accordance with Article 16(3) of the EIOPA Regulation,
Competent Authorities and financial institutions must make every effort to
comply with Guidelines.
[The following text will be completed after the finalisation of the
guidelines. Please also consider Question 9 at the end of this document].
3.66. Competent Authorities shall confirm to EIOPA whether they comply or
intend to comply with these Guidelines, with reasons for non-compliance,
by [date].
3.67. Financial undertakings shall report whether they comply with the specified
[text].
Final Provision on Reviews
3.68. The present Guidelines shall be subject to a review by the Authority by
[date].
6 EIOPA Regulation,
20/51
© EIOPA 2011