EIOPA and ECB issue common minimum standards for data revisions

Article summary

The European Insurance and Occupational Pensions Authority (EIOPA) and the European Central Bank (ECB) have collaboratively issued common minimum standards for data revisions. The standards have been collectively endorsed by the ECB, EIOPA, national central banks (NCBs) and national competent authorities (NCAs) in relation to the data pertaining to insurance corporations and pension funds. Recognising the unique nature of Pan-European Personal Pension Products (PEPPs), EIOPA has also developed specific minimum standards for data revisions, aiming to foster a harmonised approach between EIOPA and NCAs in this domain.