Lawyers question Eiopa’s powers to soft-launch Solvency II

michel barnier

Legal experts are divided over whether the European Insurance and Occupational Pensions Authority (Eiopa) is overstepping its powers in trying to compel national supervisors to adopt early elements of Solvency II prior to the entire package coming into force. Last month, Eiopa published an opinion laying out a roadmap for the soft launch of the directive's Pillar II requirements on risk governance and the Own Risk and Solvency Assessment (Orsa) in order to ensure a convergent approach between