On 2 December, EIOPA published a discussion paper on the potential harmonisation of recovery and resolution frameworks for insurers. This paper, rather than being a formal proposal by EIOPA, aims to collect the opinions of stakeholders. The discussion paper is made up of four chapters: (i) introduction, (ii) overview of existing national recovery and resolution frameworks in the EU, (iii) rationale for harmonisation, and (iv) possible building blocks of recovery and resolution.
EIOPA is seeking comments on the discussion paper, specifically on the rationale for harmonisation. EIOPA has outlined its preliminary views of what the main building blocks for a harmonised recovery and resolution framework could look like namely: (1) preparation and planning; (2) early intervention/recovery; (3) resolution; and (4) co-operation and co-ordination and has posed certain questions for stakeholders to consider on this topic. Comments should be sent to EIOPA by 29 February 2017 by way of the Template for Comments provided. At the end of the public consultation period EIOPA will publish any comments they receive on their website.
A link to the discussion paper is here.