General Insurance Article - EIOPA identify required amendments for Solvency II reporting

 As a result, these amendments concern the Implementing Technical Standards, the Guidelines on Reporting for Financial Stability Purposes and the Guidelines on the Supervision of Branches of Third-Country Insurance Undertakings.

 Some of the amendments have an impact on the Solvency II XBRL Taxonomy, namely the governance of Taxonomy releases. It is of utmost importance that the release of the Taxonomy planned for July 2017 and the legal basis are fully aligned.

 In order to provide legal certainty and to facilitate the correct reporting as well as the disclosure process for insurance undertakings, EIOPA invites all interested parties to comment on the proposed amendments or submit possible further amendments. The package for comments includes:

 Draft amendment of the ITS on Reporting;
 Draft amendment of the ITS on Disclosure;
 Draft Impact Assessment of the draft amendment of the ITS on Reporting;Revised Annex 1, 2 and 3 of the ITS on Reporting;
 Draft amendment of the Guidelines on Reporting for Financial Stability Purposes; and
 Draft amendment of the Guidelines on the Supervision of Branches of Third-Country Insurance Undertakings.

 All the documents can be accessed via EIOPA's website. Comments are particularly welcome regarding the impact assessment of the proposed amendments and are to be submitted to SIIReporting@eiopa.europa.eu by close of business on Monday, 8 May 2017.