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EIOPA's guidelines and recommendations: mere proposals or some kind of binding law?
Linköping University, Department of Management and Engineering, Commercial and Business Law. Linköping University, Faculty of Arts and Sciences.
2014 (English)In: Europarättslig tidskrift, ISSN 1403-8722, no 2, 266-288 p.Article in journal (Other academic) Published
Abstract [en]

The European Insurance and Occupational Pensions Authority (EIOPA) was established with the task of coordinating the supervisory activities of the national insurance regulators in the EU member states. EIOPA has a significant role in developing the Solvency II system for insurance regulation. One of its tasks is to issue guidelines and recommendations addressed to national supervisors and/or insurance undertakings. This paper examines the legal character of EIOPA’s guidelines and recommendations. After a presentation of the legal framework concerning guidelines, the scope of EIOPA’s competences to issue guidelines is analysed. Against this background, the paper examines whether guidelines constitute binding rules. A critical assessment of existing legal doctrine forms the starting point for a situation-based analysis from an addressee’s perspective. It is suggested that depending both on the content of the guideline and, for insurance undertakings, on the statement given by the competent national supervisor whether a guideline enjoys a presumption of being correct and binding or whether compliance is in the addressee’s discretion.

Place, publisher, year, edition, pages
2014. no 2, 266-288 p.
Keyword [en]
EIOPA, recommendations, guidelines, Solvency II, soft law, binding law, level 3 guidance, EIOPA regulation, Regulation 1094/2010, secondary sources of law, insurance regulatory law, preparatory guidelines
Keyword [de]
EIOPA, Empfehlungen, Solvency II, EIOPA-Verordnung, Verordnung 1094/2010, Versicherungsaufsichtsrecht, sekundäre Rechtsquellen
Keyword [sv]
EIOPA, rekommendationer, riktlinjer, Solvens 2, nivå 3 regler, EIOPA-förordningen, förordning 1094/2010, sekundära rättskällor, försäkringsrörelserätt
National Category
URN: urn:nbn:se:liu:diva-106910OAI: diva2:719663
Available from: 2014-05-26 Created: 2014-05-26 Last updated: 2014-06-03

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Behrendt Jonsson, Britta
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Commercial and Business LawFaculty of Arts and Sciences
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