EIOPA has published its strategic approach towards a comprehensive risk-based and preventive framework for conduct of business supervision. A key element of the approach is “smart regulation”, focusing on outcomes and moving away from a legalistic “tick-box” approach. EIOPA proposes that this smart regulation should consist of a both risk-based and preventive approach. EIOPA will submit a review of the implementation of the strategy in spring 2017. (Source: EIOPA Sets Out Approach to Conduct of Business Supervision)