Three year strategic direction of activities set out by EIOPA

A work plan has been published by the European Insurance and Occupational Pensions Authority (EIOPA) setting out a three year strategic direction of its activities, from 2017 to 2019. The strategy is outlined in a single programming document (SPD), compatible with European Commission requirements to enhance consistency and comparability across European Union bodies. The SPD specifies the tasks EIOPA is required to fulfil, as well as its strategic objectives and priorities for 2017. The organisation’s expenditures, revenues, organisational structure and staffing are also set out in detail. Three main priorities would remain EIOPA’s main focus, including enhancing supervisory convergence, reinforcing preventive consumer protection and preserving financial stability. The regulatory organisation said, “Supervisory convergence is key in a period where effective implementation of Solvency II is both a challenge and an opportunity. EIOPA is committed to delivering quality regulation and supervision to further build and facilitate common European supervisory culture.”