Regulatory Alerts2016-09-09
Added · Updated
Commission Implementing Regulation (EU) 2016/1630 on transitional measures for equity risk sub-module
The European Commission adopts implementing technical standards requiring insurance and reinsurance undertakings to maintain records of equities purchased on or before 1 January 2016 to apply the transitional measure under Directive 2009/138/EC. Undertakings must update these records whenever calculating the Solvency Capital Requirement and provide documentary evidence of purchase dates to supervisory authorities upon request. The regulation specifies that for equities held through collective investment undertakings where look-through is not possible, records must track the purchase of the underlying units or shares. It enters into force on the twentieth day following its publication in the Official Journal of the European Union.