On 18 June 2015, Insurance Europe published a position paper entitled Stocktaking and Challenges of the EU Financial Services Regulation.  The paper was issued in connection with the European Parliament's Committee on Economic and Monetary Affairs public hearing on that subject, held on 16 June 2015. Amongst other matters, the position paper highlights (a) duplication in consumer protection legislation as a key concern (e.g. the numerous disclosure requirements applicable to the sales of insurance-based investment products) and (b) the risk/impact of development of various, distinct international capital standards on Solvency II.