On 5 October the European Commission (the Commission) published its revised draft BER for the insurance sector.
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European Union
EU: European Commission Pushes Ahead with Stronger Financial Supervision in Europe
By Troutman Pepper Locke on
The European Commission announced on 23 September 2009 the adoption of legislative proposals to strengthen financial supervision in Europe in the wake of the global financial crisis.
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Restatement of European Insurance Contract Law
By Troutman Pepper Locke on
British Insurance Law Association (BILA) at which members of the Restatement of European Insurance Law Project Group presented the public launch of the Principles of European Insurance Contract Law (PEICL).
EU/UK: The Committee of European Insurance and Occupational Pensions Supervisors Release Their Second Set of Advice on Solvency II Level 2 Implementing Measures
By Troutman Pepper Locke on
On 2 July 2009, the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) released their second set of advice on Solvency II Level 2 implementing measures. The first set of advice was released on 26 March 2009 and the third and final set of advice is expected in November 2009. …
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EU: CEIOPS Reports on Insurance Linked Securities
By Troutman Pepper Locke on
CEIOPS, the Committee of European Insurance and Occupational Pensions Supervisors, has published a report on securitisation in the insurance sector. …
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EU: European Commission Considers Reform to EC Regulation No 44/2001
By Troutman Pepper Locke on
Posted in Arbitration, European Union
The European Commission has published a report and a green paper on the application of EC Regulation No 44/2001 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters (the Regulation). Copies of the report and the green paper can be found here and here. …
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Aon’s Terrorism Threat Map Identifies a Shift in Terrorism Risk
Aon recently released an updated “Terrorism Threat Map” in which it indicates the current threat of terrorist attacks across the world. The Map shows a trend towards fewer terrorist attacks in the Middle East but increased activity in southeast Asia. …
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EU: The Committee of European Securities Regulators (CESR) Publishes Report on Credit Rating Agencies Code of Conduct
By Troutman Pepper Locke on
Posted in European Union, Regulatory
CESR has published its final report into the progress that EU based credit rating agencies’ (CRAs) have made in complying with the International Organisation of Securities Commission’s 2008 Code of Conduct Fundamentals for Credit Rating Agencies (the IOSCO Code).
EU: European Commission Proposes Stronger Financial Supervision in Europe
By Troutman Pepper Locke on
Posted in European Union, Regulatory
The European Commission has adopted a Communication on Financial Supervision in Europe aimed at driving European recovery in the financial sector (the Communication).
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EU: European Parliament and Council Approve Regulation of Credit Rating Agencies
By Troutman Pepper Locke on
We have previously reported on two consultation papers issued by the European Commission on the regulation of credit rating agencies (click here for our earlier post). The consultation process culminated in the publication of draft regulations (the Regulations). On 23 April the European Commission announced that the Regulations had been approved by the European Parliament and the European Council.
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