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Topics

1. Regulatory Change & Compliance
2. Sustainability
3. Risk Culture & Governance
4. Financial Crime
5. Data

Regulatory Change & Compliance

Focus areas: Consumer Protection (IDD – POG – Value for Money) – RIS – Transparency – Regulatory Outlook

• The FSMA updated the cartography of IDD activities FR or NL
• The EIOPA released a new study today highlighting the importance of clearer, and more consumer-friendly information disclosures regarding the natural catastrophe coverage of home insurance policies
• The FSMA and the FPS Economy have published a joint handbook on cross-selling with an insurance component FR or NL
• The FSMA published the new payout procedure for supplementary pensions FR or NL
• The FSMA published Retail Investor Survey FR or NL
• May 13, 2025 – Royal Decree Approving the regulation of the Financial Services and Markets Authority on the standard presentation of certain information to be provided regarding supplementary pensions FR or NL

Sustainability

Focus areas: Taxonomy – SFDR – CSRD – CSDDD – Sustainability preferences – Climate Risks – Greenwashing – Stress testing – ORSA – Protection Gap - …

• Powers conferred on the FSMA within the framework of the 'EU Green Bonds' regulation FR or NL
• EFRAG - release of the VSME Digital Template, XBRL Taxonomy & Converter

Risk Culture & Governance

Focus areas: Business Continuity / Operational Resilience – COVID – Culture - Governance & Risk Management - Outsourcing – Recovery & Resolution - Solvency II

• Monthly update of the symmetric adjustment of the equity capital charge for Solvency II – end-April 2025
• Financial Stability Report 2025
• EFRAG Releases Annual Review 2024, Highlighting Key Achievements and Future Priorities

Financial Crime

Focus areas: AML/CFT - Financial Crime – Fraud

• EU aligns third countries with restrictive measures concerning Iran, Ukraine, Moldova, and Myanmar/Burma (Council Decisions 2025/774, 2025/690, 2025/700, 2025/824, 2025/820)
• The Council issued a statement on the lifting of EU economic sanctions on Syria
• The Council adopted a 17th package of economic and individual restrictive designed to massively target Putin’s shadow fleet and weaken Russia’s military and industrial complex
• EU aligns third countries with renewed and extended cyber sanctions regime targeting cyber-attacks against the Union or its Member States (Council Decision 2025/8871)
• Newsletter: Points of attention for intermediaries and AMLCO Day 2025 FR or NL

Data

Focus areas: DORA – GDPR – Technology / Data / Innovation (AI) – Information and Communication Technology – Open insurance

• The EDPB opinion, requested by the European Commission, addresses the proposed extension of the two UK adequacy decisions under the GDPR and the LED, which are set to expire on 27 June 2025
• EIOPA surveys European insurers on their use of generative AI
• The FSMA published ESA’s joint Guidelines on the estimation of aggregated annual costs and losses caused by major ICT-related incidents FR or NL
• A new Belgian Data Protection Authority portal for notifications and procedures coming soon FR or NL

The Ensur Insurance Regulatory Watch is not intended to serve as legal advice and is provided for informational purposes only. It is not intended to form the basis of any decisions and you should not rely on its content for any purposes whatsoever.