Regulatory Alerts2016-11-10
Added · Updated
Commission Implementing Regulation (EU) 2015/2450 laying down implementing technical standards with regard to the templates for the submission of information to the supervisory authorities according to Directive 2009/138/EC
This Regulation establishes implementing technical standards on regular supervisory reporting by defining specific templates for individual insurance and reinsurance undertakings, participating entities, insurance holding companies, and mixed financial holding companies. It mandates that these entities submit quantitative data using designated formats, specifying that monetary data points be expressed in units with no decimals (except for four specific templates requiring two decimals), percentages as per unit with four decimals, and integers with no decimals. The document requires reporting in a defined 'reporting currency' based on financial statements, with conversion rules for other currencies, and obligates the prompt re-submission of materially changed information. Furthermore, it details the exact templates required for opening information, quarterly reports (including a 30% threshold for collective investment look-through), and annual reports covering balance sheets, investments, and technical provisions.