EUROPE - The European Insurance and Occupational Pension Authority (EIOPA) will seek industry comments on Europe's IOPRPs directive as it prepares its advice to the European Commission.
The European Commission gave the nascent body a deadline of December 2011, to provide feedback o the legislative framework around the Institutions for Occupational Retirement Provisions (IORPs) directive. EIOPA went live in January and replaced the Committee of European Insurance and Occupational Pensions Supervisors.
The directive created in an effort to make an internal market for occupational pension funds in Europe and aid in promoting cross border pensions.
EIOPA is looking for comments from the industry on the scope of the IORP directive, the definition of cross-border activity, labour law, governance requirements and other aspects of the directive.
The consultation period will start today and last through 15 August.
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