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(3.) In January 2011 the new European supervisory agencies EBA (European Banking Authority), ESMA (European Securities and Markets Authority) and EIOPA (European Insurance and Occupational Pensions Authority) emerged from the former L3L committees CEBS, CESR and CEIOPS and gained more power in transnational supervision.
The new rules are being drawn up with the Frankfurt-based Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) acting as the EC's advisor.
In the first week of December, CEIOPS, the Committee of European Insurance and Occupational Pensions, said it would recommend a phased introduction of Solvency II from 2013 after various companies expressed concerns about their readiness.
The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS), responsible for drawing up the so-called level 2' implementing measures in the Lamfalussy process, is recommending excessively "prudent" capital requirements on insurers that will lead to substantially higher costs, the federation says.
(CEIOPS), and the Committee of European Securities Regulators (CESR)
According to an October report by Ernst & Young, the Commission of European Insurance and Occupational Pension Supervisors (CEIOPS) conducted an analysis that identified Switzerland, Bermuda and the United States as the most important jurisdictions to the insurance markets within the EU.
The head of the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS), which provides advice to the European Commission on the insurance sector, has said he wants clarification on how the EU's new supervisory structure will work.
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- Ceilings and Interior Systems Construction Association
- Ceinwen Faulkner Memorial Trust