EIOPA publishes the Guidelines in the areas covered by the consultations in autumn of this year. This should allow NCAs to put in place, applying from 1 January 2014, certain important aspects of the prospective and risk based supervisory approach to be introduced by the Solvency II Directive, as stated in the Opinion.

The Guidelines are intended to apply for the duration of the preparatory phase.

The Opinion stated that NCAs ‘should put in place, starting on 1 January 2014, certain important aspects of the prospective and risk based supervisory approach to be introduced’. NCAs and undertakings are expected to progress in their preparedness for Solvency II over time during the course of the preparatory phase.

Further details can be obtained on request.