EU Tells Regulators To Continuously Monitor Insurance Heads
Law360, London (January 25, 2019, 8:36 PM GMT) -- Europe’s top insurance watchdog told national regulators from across the bloc on Friday that they must assess insurance firms on an ongoing basis to check if their board members and shareholders are carrying out their roles properly.
The European Insurance and Occupational Pensions Authority said national regulators were investing enough time and money into their initial checks on individuals that form part of insurers' administrative, management and supervisory boards, but the watchdog said it found that not many regulators in Europe were completing ongoing assessments to see if these members continued to be fit and proper for their roles.
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