Topics

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

Regulatory Change & Compliance

Focus areas : Brexit - Consumer protection – PRIIPs – Regulatory Outlook

• EIOPA publishes advice to the European Commission on Retail Investor Protection in relation to the sale of IBIPs
• Technical advice on the review of PRIIPs Regulation: call for advice on PRIIPs: ESA advice on the review of the PRIIPs Regulation
• EIOPA publishes it's 4th report on the costs and past performance of insurance and pension products
  
• Joint ESA Supervisory Statement on expectations regarding the ‘What is this product?’ section of the key information document for packaged retail and insurance based investment product
• ESAs call for improvements in product descriptions intended for retail investors
  
• Consultation paper on Supervisory statement on management of non-affirmative cyber underwriting exposures
  

Sustainability

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

• ESAs issue updated supervisory statement on the application of the SFDR
• SFDR queries forwarded to the Commission
• EIOPA assesses European insurers’ exposure to physical climate change risks
• FSMA publication on Rules on sustainable finance - Insurance companies
• EIOPA's Consultation Paper on Draft Guidelines on integrating the customer’s sustainability preferences in the suitability assessment under the IDD

Risk Culture & Governance

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

• EIOPA submits the draft amendments of supervisory reporting and disclosure requirements

Financial Crime

Focus areas: AML/CFT - Financial Crime - Fraud

• Periodic questionnaire on the prevention of money laundering and terrorist financing

Data

Focus areas: Cyber – Data Privacy – Technology / Data / Innovation – Information and Communication Technology – Open insurance

• Study on Potential Policy Measures to Promote the Uptake and the Use of AI in Belgium in Specific Economic Domains

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.