On 11 January 2016, EIOPA published a paper setting out its strategy for developing a comprehensive framework for conduct of business supervision.  Notably, EIOPA highlighted that its approach would involve 'smart regulation' (i.e. risk-based and preventative; focusing on outcomes rather than legalistic box-ticking). The strategy paper sets out the tools needed to implement this framework including (a) consumer trend reports, (b) effective market monitoring, (c) thematic reviews and (d) retail risk indicators.