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EIOPA Warns Regulatory Limitations Hamper Even Field In EU

Law360 (December 19, 2018, 8:01 PM EST) -- Europe's top insurance watchdog said Wednesday that it has been mostly successful in harmonizing cross-border oversight of multinational companies but that gaps in the regulatory framework mean there's work left unfinished to streamline supervision in the European Union. 

Regulators and other national authorities are largely using the same practices when handling cross-border issues, largely due to tools it developed, the European Insurance and Occupational Pensions Authority said. 

Guidelines, opinions, recommendations and training sessions have helped create a "common supervisory culture" among national regulators and other authorities which has, in turn, lead to more information being shared to protect policyholders, EIOPA said. ...

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