On 9 July 2013, EIOPA's Chairman delivered a speech to an ABI conference titled "2020: Challenges of a changing world". His speech focused on four topics, i.e. (a) sound risk based prudential regulation, (b) a new paradigm on disclosure, (c) product governance and suitability and (d) enhanced supervision. Interestingly, he envisages disclosure of information to consumers in layers - with basic essential information about products provided in advance of specific technical and legal information (which would be provided on request). He also indicated that product suitability would be at the top of insurers' Board's agendas.