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European Insurance and Occupational Pensions Authority (EIOPA) launched

Edwards Wildman Palmer LLP
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European Union
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January 20 2011

The European Insurance and Occupational Pensions Authority (EIOPA) held its first meeting on 10 January 2010 and promptly elected its management board and selected Gabriel Bernardino as its first Chairperson

EU plans for VAT exemption reforms are set to continue

Edwards Wildman Palmer LLP
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European Union
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December 3 2010

Following a meeting of the Council of the European Union on 17 November 2010, plans to reform the VAT exemption for insurance and the wider financial services industry are set to continue, with Member States agreeing to find a resolution to the current problems

Consultation on Solvency II level 2 implementing measures launched

Edwards Wildman Palmer LLP
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European Union
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December 2 2010

The European Commission (Commission) launched a consultation on 24 November 2010 to obtain input on the impacts, costs and benefits to support the policy decision making-process for the Solvency II level 2 implementing measures (the Consultation

Consultation on the review of the Insurance Mediation Directive

Edwards Wildman Palmer LLP
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European Union
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December 2 2010

On 26 November 2010, the European Commission opened a consultation period on the review of the Insurance Mediation Directive (IMD) in order to allow stakeholders to provide comments and opinion on the current IMD provisions and the possible policy changes that could be made in the future

Advice on the revision of the Insurance Mediation Directive

Edwards Wildman Palmer LLP
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European Union
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November 29 2010

The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) submitted its advice to the European Commission on the revision of the Insurance Mediation Directive (200292EC) (IMD), on 11 November 2010

ECJ finds against AXA in VAT dispute

Edwards Wildman Palmer LLP
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European Union
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November 12 2010

In the recent case of AXA UK (Taxation) 2010 EUECJ C-17509, the European Court of Justice (ECJ) was asked by the UK Court of Appeal whether the service of passing payments from patients to dentists was exempted from VAT

European Commission confirms first wave of Solvency II equivalence assessments

Edwards Wildman Palmer LLP
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European Union
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November 9 2010

In a letter to CEIOPS dated 29 October 2010, the European Commission has confirmed the countries that will undergo the first wave of equivalence assessments under the Solvency II regime

CEIOPS consults on methodology for Solvency II equivalence assessments

Edwards Wildman Palmer LLP
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European Union
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October 14 2010

Further to its recent work in considering potential jurisdictions in the first wave of Solvency II equivalence assessments, CEIOPS has recently published a proposed methodology for carrying out these assessments and has asked for comments on its proposals by 22 October 2010

European Parliament approves overhaul of financial supervision in Europe

Edwards Wildman Palmer LLP
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European Union
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October 4 2010

On 22 September 2010, the European Parliament approved a sweeping overhaul of financial supervision in Europe, including the creation of a new supervisory authority for insurance and reinsurance - the European Insurance and Occupational Pensions Authority (EIOPA) - and a European Systemic Risk Board (ESRB) which will monitor threats to the EU economy as a whole

CEIOPS publishes final Solvency II equivalence advice

Edwards Wildman Palmer LLP
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European Union
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September 15 2010

The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has published its final advice to the European Commission on the Equivalence assessments to be undertaken in relation to Articles 172, 227 and 260 of the Solvency II Directive