The rules of Solvency II, the 2009 EU regulatory framework for insurance firms, have proved their worth but need to be adapted to new circumstances. In an opinion adopted at its plenary session on 23 February, the European Economic and Social Committee (EESC) welcomed the initiative of the European Commission (EC) to revamp Solvency II. The Committee stresses the considerable interest of civil society in ensuring the stability of the financial sector, and therefore calls for sound capital requirements and risk preparedness in the insurance sector.
Rialáil níos fearr
Stakeholders stressed the importance of cohesion policy and the need for appropriate and effective funding
The condition of the European economy, completing the Single Market, trade and Brexit – these are the top issues for European employers' organisations in the forthcoming months. On 29 March 2017, the Directors-General and Secretaries-General of BusinessEurope, EuroCommerce and Copa-Cogega presented their priorities and debated with the members of the EESC Employers' Group.
Officious transposition of the EU law at the national level undermines Single Market, increases costs and hinders development. Numerous governments of Member States use transposition process as an opportunity to address domestic political issues which results with "goldplating". This unfavorable tendency has negative impact on business and should be avoided by all possible means. Good regulation, consistent and stable legal framework, both at the national and the European level is what business counts on - these are some of the conclusions of the conference "Transposition of the European law – the key challenge to business activity", that took place on 6 December 2016 in Zagreb, Croatia.
The exploratory opinion on the Regulatory Fitness and Performance Program (REFIT) (Rapporteur: Mr. Denis Meynent), was adopted by the EESC at its plenary on 26 May 2016. This opinion follows a direct request from the First Vice President of the European Commission, Mr Timmermans, as the EESC is considered to be well-placed to assess the costs and benefits of the current rules for stakeholders and to suggest REFIT priorities - in particular in the ...