On 27 May 2014, EIOPA published slides relating to its first set of guidelines under Solvency II. The guidelines will cover issues including valuation of assets, technical provisions, the solvency capital requirement, internal models, governance and the supervisory review process. Consultation on the draft guidelines is expected to take place between June 2014 and August 2014; with final draft guidelines expected in November 2014. It is also intended that firms must 'comply or explain' with the guidelines produced by February/March 2015.