eiopa-pwd

EIOPA publishes PEPP and Solvency II PWD

On the 1st of June, EIOPA published the Public Working Draft  (PWD) 2.7.0 release of the EIOPA Pan European Personal Pension
Product Prudential Reporting DPM and taxonomy, as well as PWD of the 2.8.0 Insurance DPM and taxonomy. 

The publication of the PWD is in line with the EIOPA calendar, indicating the release of PWD relating to Pan European Pension Funds (PEPP), PEPP Key Information Document (PEPP KID) and Insurance (Solvency II). 

PWD published by EIOPA in June

PWD2 PEPP PR Data Point Model and Taxonomy 2.7.0 (Published 01/06/2022)

PWD2 Insurance Data Point Model and Taxonomy 2.8.0 (Published 01/06/2022)

EIOPA taxonomy release calendar 

A few short takeaways:

eiopa_taxonomy_roadmap_timeline_2022-2023.jpg
 
 
Solvency II is one of the most complex regulatory frameworks, requiring insurance undertakings to submit detailed reports on a regular basis.

The scope of data reported within the Solvency II framework is subject to regular changes, with EIOPA’s Solvency II 2020 review and the UK review, expected to impact insurance undertakings in 2022. Asides from the impact of international regulatory changes, insurers need to comply with ever-changing reporting requirements when filing to their respective National Competent Authorities (NCA) and comply with the required XBRL format for reports, adding to the complexity of the Solvency II regime. With our solution, we are able to cater to insurers’ Solvency II reporting needs for EIOPA requirements as well as National Specific Templates (NST) required by e.g. the Bank of England and Central Bank of Ireland.

As is usually the case with taxonomy updates and regulatory reporting changes, the window for ensuring compliance with reporting requirements is most often, short. With “agile” in mind, the best strategy is to rely on a tool that can be quickly updated to comply with the newest taxonomy requirements and validate data in regulatory returns prior to submission. ATOME Particles supports filers in their "last mile" of reporting, allowing for easy Excel/XBRL import, checking regulatory returns against XBRL validation rules and exporting the report in XBRL or other formats.

Get in touch with our experts to find out more about ATOME Solutions:

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