Response to joint Consultation on the Guidelines on the convergence of supervisory practices relating to the consistency of supervisory coordination arrangements for financial conglomerates

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3. Do you consider appropriate the minimum number of meetings described in paragraphs 49 and 50?

We do not have a problem with number of meetings suggested, but we find it less flexible considering that at least one physical meeting should be organised per year as set out in paragraph 49. This paragraph is stricter than the corresponding EIOPA’s Colleges Guidelines. It should be left at the discretion of the College to decide the meeting frequency and format suitable for how they perform their tasks and supervision. The meeting frequency and format should ensure that regular exchange of information is shared to improve the understanding of the risk situation the conglomerate is operating under.

Name of organisation

Insurance Europe