On 6 December 2012, the European Insurance and Occupational Pensions Authority ("EIOPA") published procedures for how it will issue warnings and temporary prohibitions and restrictions regarding financial activities. The procedures lay down the steps to be followed for identifying threats and initiating the further assessment process within EIOPA. The procedures also lay down the rights and obligations of the addressees of any warnings or temporary measures, how such warnings and measures will be communicated, their duration and review provisions. The procedures outline the steps to be taken both in the case of warnings and temporary prohibitions and restrictions.
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Procedures for warnings and temporary restrictions/prohibitions to enhance legal certainty
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