EIOPA calls for simplification – but not at the expense of supervision.
Earlier this month, the European Insurance and Occupational Pensions Authority (EIOPA) set out its vision for simplifying regulation while maintaining effective supervision across the EU.
The authority called for a “comprehensive and balanced approach” that strengthens competitiveness without compromising consumer protection or financial stability.
EIOPA’s plan highlights a smarter, more harmonised EU regulatory framework—one that avoids fragmentation by eliminating inconsistent national requirements. It argues that simplification should begin early in the legislative process and be accompanied by stronger mandates for supervisory convergence. The authority has already implemented streamlining measures in areas like Solvency II reporting, stress test frequency, and product disclosures.
This is a welcome move for digital reporting advocates. Reducing regulatory burdens does not mean sacrificing data quality or oversight. On the contrary, simplification done right means focusing on essential, high-value information—ideally structured in machine-readable formats like XBRL. That ensures supervision remains robust while lowering unnecessary costs and complexity for industry.
In short, EIOPA’s approach underscores the need for efficient, harmonised and data-smart regulation. And it reminds us that simplification isn’t about doing less—it’s about doing better.
Read the story on EIOPA’s website here.
