Insurers Could Face New Capital Demands Under EU Proposals
Law360, London (November 26, 2018, 3:47 PM GMT) -- The European Union’s insurers could face tougher reporting requirements and new capital demands under proposals put forward by the European Systemic Risk Board on Monday, as part of a wider rethinking of supervision in the industry.
The board, which oversees the EU’s financial system, set out tentative plans after the European Court of Auditors raised broad concerns earlier this month about the way in which the industry is being regulated in the bloc.
The ESRB said in a statement it could see benefits in introducing a “proportionate extension and enhancement of prudential reporting requirements.”
More mandatory reporting would be likely to...
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